Investors focused on the Medical space have likely heard of Cardinal Health (CAH), but is the stock performing well in comparison to the rest of its sector peers? 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.
Cardinal Health is one of 905 individual stocks in the Medical sector. Collectively, these companies sit at #3 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. CAH is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CAH's full-year earnings has moved 1.35% higher within the past quarter. 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 6.78% so far this year. Meanwhile, the Medical sector has returned an average of 2.48% on a year-to-date basis. This means that Cardinal Health is outperforming the sector as a whole this year.
To break things down more, CAH belongs to the Medical - Dental Supplies industry, a group that includes 22 individual companies and currently sits at #117 in the Zacks Industry Rank. This group has gained an average of 5.71% so far this year, so CAH is performing better in this area.
Investors in the Medical sector will want to keep a close eye on CAH as it attempts to continue its solid performance.
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