For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Eli Lilly and (LLY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Eli Lilly and is one of 904 companies in the Medical group. The Medical group currently sits at #4 within 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 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. LLY is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for LLY's full-year earnings has moved 0.62% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, LLY has gained about 26.65% so far this year. In comparison, Medical companies have returned an average of 0.82%. This means that Eli Lilly and is outperforming the sector as a whole this year.
Breaking things down more, LLY is a member of the Large Cap Pharmaceuticals industry, which includes 15 individual companies and currently sits at #23 in the Zacks Industry Rank. On average, this group has lost an average of 0.11% so far this year, meaning that LLY is performing better in terms of year-to-date returns.
LLY 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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