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Has ABIOMED (ABMD) Outpaced Other Medical Stocks This Year?

Zacks Equity Research
Southern National Bancorp (SONA) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is ABIOMED (ABMD) 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.

ABIOMED is one of 837 companies in the Medical group. The Medical group currently sits at #3 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ABMD is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ABMD's full-year earnings has moved 1.28% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, ABMD has gained about 9.19% so far this year. Meanwhile, stocks in the Medical group have gained about 5.19% on average. As we can see, ABIOMED is performing better than its sector in the calendar year.

Looking more specifically, ABMD belongs to the Medical - Instruments industry, which includes 90 individual stocks and currently sits at #69 in the Zacks Industry Rank. On average, this group has gained an average of 11.29% so far this year, meaning that ABMD is slightly underperforming its industry in terms of year-to-date returns.

Going forward, investors interested in Medical stocks should continue to pay close attention to ABMD as it looks to continue its solid performance.


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