The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Kala Pharmaceuticals (KALA - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Kala Pharmaceuticals is one of 889 companies in the Medical group. The Medical group currently sits at #1 within the Zacks Sector Rank. 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. KALA is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for KALA's full-year earnings has moved 13.87% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, KALA has gained about 238.21% so far this year. In comparison, Medical companies have returned an average of -0.87%. This shows that Kala Pharmaceuticals is outperforming its peers so far this year.
Looking more specifically, KALA belongs to the Medical - Biomedical and Genetics industry, a group that includes 382 individual stocks and currently sits at #13 in the Zacks Industry Rank. On average, this group has gained an average of 8.97% so far this year, meaning that KALA is performing better 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.