Is Elevance Health, Inc. (ELV) 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 Elevance Health (ELV) 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.
Elevance Health is one of 1183 companies in the Medical group. The Medical group currently sits at #4 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 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. Elevance Health is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ELV's full-year earnings has moved 0.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ELV has returned 13.2% so far this year. In comparison, Medical companies have returned an average of -16.4%. This means that Elevance Health is performing better than its sector in terms of year-to-date returns.
Another Medical stock, which has outperformed the sector so far this year, is Genmab AS Sponsored ADR (GMAB). The stock has returned 15% year-to-date.
The consensus estimate for Genmab AS Sponsored ADR's current year EPS has increased 32.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Elevance Health is a member of the Medical Services industry, which includes 70 individual companies and currently sits at #143 in the Zacks Industry Rank. Stocks in this group have lost about 30.4% so far this year, so ELV is performing better this group in terms of year-to-date returns.
In contrast, Genmab AS Sponsored ADR falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 558 stocks and is ranked #56. Since the beginning of the year, the industry has moved -17.4%.
Elevance Health and Genmab AS Sponsored ADR could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Elevance Health, Inc. (ELV) : Free Stock Analysis Report
Genmab AS Sponsored ADR (GMAB) : Free Stock Analysis Report
