For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Amarin Corporation (AMRN) 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.
Amarin Corporation is one of 881 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 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. AMRN is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMRN's full-year earnings has moved 40.36% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AMRN has returned about 59.59% since the start of the calendar year. In comparison, Medical companies have returned an average of 11.19%. As we can see, Amarin Corporation is performing better than its sector in the calendar year.
Looking more specifically, AMRN belongs to the Medical - Biomedical and Genetics industry, which includes 372 individual stocks and currently sits at #61 in the Zacks Industry Rank. On average, this group has gained an average of 10.50% so far this year, meaning that AMRN is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to AMRN as it looks to continue its solid performance.
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