Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is AbbVie (ABBV) 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.
AbbVie is one of 887 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 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. ABBV is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ABBV's full-year earnings has moved 0.11% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ABBV has returned about 9.23% since the start of the calendar year. At the same time, Medical stocks have lost an average of 0.45%. This means that AbbVie is outperforming the sector as a whole this year.
Breaking things down more, ABBV is a member of the Large Cap Pharmaceuticals industry, which includes 15 individual companies and currently sits at #20 in the Zacks Industry Rank. This group has lost an average of 0.08% so far this year, so ABBV is performing better in this area.
Investors with an interest in Medical stocks should continue to track ABBV. The stock will be looking to continue its solid performance.
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