Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Kala Pharmaceuticals (KALA) one of those stocks right now? 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.
Kala Pharmaceuticals is one of 901 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. KALA is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for KALA's full-year earnings has moved 0.92% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, KALA has returned 73.31% so far this year. Meanwhile, stocks in the Medical group have gained about 2.42% on average. As we can see, Kala Pharmaceuticals is performing better than its sector in the calendar year.
To break things down more, KALA belongs to the Medical - Biomedical and Genetics industry, a group that includes 385 individual companies and currently sits at #71 in the Zacks Industry Rank. Stocks in this group have gained about 0.79% so far this year, so KALA is performing better this group in terms of year-to-date returns.
KALA will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.