For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Cardinal Health (CAH - 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.
Cardinal Health is a member of the Medical sector. This group includes 894 individual stocks and currently holds a Zacks Sector Rank of #1. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. CAH is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for CAH's full-year earnings has moved 6.53% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CAH has moved about 0.22% on a year-to-date basis. In comparison, Medical companies have returned an average of -6.97%. This means that Cardinal Health is performing better than its sector in terms of year-to-date returns.
Looking more specifically, CAH belongs to the Medical - Dental Supplies industry, which includes 22 individual stocks and currently sits at #70 in the Zacks Industry Rank. Stocks in this group have lost about 9.44% so far this year, so CAH is performing better this group in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on CAH as it attempts to continue its solid performance.