For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is AmerisourceBergen (ABC - Free Report) one of those stocks right now? 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.
AmerisourceBergen is a member of our Medical group, which includes 899 different companies and currently sits at #3 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. ABC is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ABC's full-year earnings has moved 2.06% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ABC has returned 1.24% so far this year. At the same time, Medical stocks have lost an average of 6.60%. This means that AmerisourceBergen is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ABC belongs to the Medical - Dental Supplies industry, a group that includes 22 individual stocks and currently sits at #47 in the Zacks Industry Rank. Stocks in this group have lost about 8% so far this year, so ABC is performing better this group in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track ABC. The stock will be looking to continue its solid performance.