Has Abiomed (ABMD) Outpaced Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Abiomed (ABMD) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Abiomed is one of 1111 individual stocks in the Medical sector. Collectively, these companies sit at #13 in 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. Abiomed is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ABMD's full-year earnings has moved 0.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ABMD has gained about 11.6% so far this year. At the same time, Medical stocks have lost an average of 5.8%. This means that Abiomed is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is Armata Pharmaceuticals, Inc. (ARMP). The stock has returned 80.9% year-to-date.
For Armata Pharmaceuticals, Inc. the consensus EPS estimate for the current year has increased 1.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Abiomed belongs to the Medical - Instruments industry, a group that includes 100 individual stocks and currently sits at #174 in the Zacks Industry Rank. On average, stocks in this group have gained 12% this year, meaning that ABMD is slightly underperforming its industry in terms of year-to-date returns.
Armata Pharmaceuticals, Inc. however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 509-stock industry is ranked #162. The industry has moved -20.2% so far this year.
Abiomed and Armata Pharmaceuticals, Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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