Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Cardinal Health (CAH) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Cardinal Health 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 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 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. CAH is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAH's full-year earnings has moved 6.41% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CAH has returned about 17.02% since the start of the calendar year. At the same time, Medical stocks have gained an average of 1.95%. This means that Cardinal Health is outperforming the sector as a whole this year.
To break things down more, CAH 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, this group has gained an average of 3.42% so far this year, meaning that CAH is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track CAH. The stock will be looking to continue its solid performance.