Investors focused on the Medical space have likely heard of Thermo Fisher Scientific (TMO - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Thermo Fisher Scientific is one of 889 individual stocks in the Medical sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. TMO is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for TMO's full-year earnings has moved 0.33% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, TMO has moved about 25.41% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 2.35% on average. This means that Thermo Fisher Scientific is outperforming the sector as a whole this year.
Breaking things down more, TMO is a member of the Medical - Instruments industry, which includes 96 individual companies and currently sits at #71 in the Zacks Industry Rank. Stocks in this group have gained about 9.16% so far this year, so TMO is performing better this group in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track TMO. The stock will be looking to continue its solid performance.