For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Eagle Pharmaceuticals (EGRX) 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? 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.
Eagle Pharmaceuticals is one of 761 individual stocks in the Medical sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. EGRX is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for EGRX's full-year earnings has moved 2.46% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that EGRX has returned about 50.60% since the start of the calendar year. At the same time, Medical stocks have gained an average of 3.02%. As we can see, Eagle Pharmaceuticals is performing better than its sector in the calendar year.
Looking more specifically, EGRX belongs to the Medical - Products industry, a group that includes 70 individual stocks and currently sits at #80 in the Zacks Industry Rank. On average, stocks in this group have gained 12.49% this year, meaning that EGRX is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to EGRX as it looks to continue its solid performance.
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