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Is Celgene (CELG) Outperforming Other Medical Stocks This Year?

Zacks Equity Research
OceanFirst (OCFC) delivered earnings and revenue surprises of 0.00% and 1.07%, respectively, for the quarter ended March 2019. Do the numbers hold clues to what lies ahead for the stock?

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Celgene (CELG) 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.

Celgene 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 sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. CELG is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for CELG's full-year earnings has moved 7.70% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, CELG has returned 38.02% so far this year. At the same time, Medical stocks have gained an average of 10.05%. This means that Celgene is outperforming the sector as a whole this year.

To break things down more, CELG belongs to the Medical - Biomedical and Genetics industry, a group that includes 344 individual companies and currently sits at #88 in the Zacks Industry Rank. On average, this group has gained an average of 15.90% so far this year, meaning that CELG is performing better in terms of year-to-date returns.

CELG will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.


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