Investors focused on the Medical space have likely heard of Mallinckrodt public limited (MNK), 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.
Mallinckrodt public limited is a member of our Medical group, which includes 833 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. MNK is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MNK's full-year earnings has moved 11.50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MNK has returned about 50.63% since the start of the calendar year. At the same time, Medical stocks have gained an average of 10.44%. As we can see, Mallinckrodt public limited is performing better than its sector in the calendar year.
Breaking things down more, MNK is a member of the Medical - Generic Drugs industry, which includes 23 individual companies and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 15% so far this year, so MNK is performing better in this area.
Investors in the Medical sector will want to keep a close eye on MNK as it attempts to continue its solid performance.
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