Investors focused on the Medical space have likely heard of ABIOMED (ABMD), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ABMD and the rest of the Medical group's stocks.
ABIOMED is one of 833 companies in the Medical group. The Medical group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. ABMD 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 0.41% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ABMD has returned 2.52% so far this year. At the same time, Medical stocks have gained an average of 10.05%. As we can see, ABIOMED is performing better than its sector in the calendar year.
Breaking things down more, ABMD is a member of the Medical - Instruments industry, which includes 90 individual companies and currently sits at #96 in the Zacks Industry Rank. Stocks in this group have gained about 16.76% so far this year, so ABMD is slightly underperforming its industry this group in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track ABMD. The stock will be looking to continue its solid performance.
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