Investors focused on the Medical space have likely heard of McKesson (MCK), 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.
McKesson is a member of our Medical group, which includes 901 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. MCK is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MCK's full-year earnings has moved 2.29% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, MCK has returned 17.22% so far this year. In comparison, Medical companies have returned an average of 1.95%. This means that McKesson is performing better than its sector in terms of year-to-date returns.
To break things down more, MCK belongs to the Medical - Dental Supplies industry, a group that includes 22 individual companies and currently sits at #103 in the Zacks Industry Rank. On average, stocks in this group have gained 3.42% this year, meaning that MCK is performing better in terms of year-to-date returns.
MCK will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.