The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Amgen (AMGN - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 888 companies in the Medical group. The Medical group currently sits at #2 within 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AMGN is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AMGN's full-year earnings has moved 1.83% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, AMGN has gained about 5.31% so far this year. In comparison, Medical companies have returned an average of 1.76%. As we can see, Amgen is performing better than its sector in the calendar year.
Looking more specifically, AMGN belongs to the Medical - Biomedical and Genetics industry, a group that includes 376 individual stocks and currently sits at #68 in the Zacks Industry Rank. On average, stocks in this group have lost 0.88% this year, meaning that AMGN is performing better in terms of year-to-date returns.
AMGN will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.