Investors focused on the Medical space have likely heard of Amgen (AMGN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AMGN and the rest of the Medical group's stocks.
Amgen is one of 842 individual stocks in the Medical sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AMGN is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AMGN's full-year earnings has moved 0.60% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, AMGN has returned 3.03% so far this year. At the same time, Medical stocks have gained an average of 2.25%. This shows that Amgen is outperforming its peers so far this year.
Breaking things down more, AMGN is a member of the Medical - Biomedical and Genetics industry, which includes 345 individual companies and currently sits at #58 in the Zacks Industry Rank. On average, this group has gained an average of 11.18% so far this year, meaning that AMGN is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on AMGN as it attempts to continue its solid performance.