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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Cardinal Health (CAH) 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? One simple way to answer this question is to take a look at the year-to-date performance of CAH and the rest of the Medical group's stocks.
Cardinal Health is a member of our Medical group, which includes 931 different companies and currently sits at #14 in 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CAH is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CAH's full-year earnings has moved 8.48% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CAH has gained about 4.90% so far this year. Meanwhile, stocks in the Medical group have gained about 1.42% on average. This shows that Cardinal Health is outperforming its peers so far this year.
Breaking things down more, CAH is a member of the Medical - Dental Supplies industry, which includes 22 individual companies and currently sits at #60 in the Zacks Industry Rank. On average, this group has gained an average of 12.88% so far this year, meaning that CAH 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 CAH as it looks to continue its solid performance.
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