Is AmerisourceBergen (ABC) Stock Outpacing Its Medical Peers This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is AmerisourceBergen (ABC) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
AmerisourceBergen is a member of our Medical group, which includes 1119 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. AmerisourceBergen is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ABC's full-year earnings has moved 2.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ABC has gained about 15.5% so far this year. At the same time, Medical stocks have lost an average of 2.6%. This shows that AmerisourceBergen is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Hologic (HOLX). The stock is up 7.4% year-to-date.
For Hologic, the consensus EPS estimate for the current year has increased 3.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, AmerisourceBergen belongs to the Medical - Dental Supplies industry, which includes 17 individual stocks and currently sits at #20 in the Zacks Industry Rank. On average, this group has gained an average of 16.6% so far this year, meaning that ABC is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Hologic falls under the Medical - Instruments industry. Currently, this industry has 96 stocks and is ranked #98. Since the beginning of the year, the industry has moved +11.3%.
Going forward, investors interested in Medical stocks should continue to pay close attention to AmerisourceBergen and Hologic as they could maintain their solid performance.
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AmerisourceBergen Corporation (ABC) : Free Stock Analysis Report
Hologic, Inc. (HOLX) : Free Stock Analysis Report
