Are Medical Stocks Lagging Aurora Cannabis (ACB) This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Aurora Cannabis Inc. (ACB) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Aurora Cannabis Inc. is a member of our Medical group, which includes 1181 different companies and currently sits at #8 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 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. Aurora Cannabis Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ACB's full-year earnings has moved 9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ACB has gained about 3.7% so far this year. Meanwhile, stocks in the Medical group have lost about 16.2% on average. This means that Aurora Cannabis Inc. is outperforming the sector as a whole this year.
One other Medical stock that has outperformed the sector so far this year is Lantheus Holdings (LNTH). The stock is up 0.7% year-to-date.
For Lantheus Holdings, the consensus EPS estimate for the current year has increased 3.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Aurora Cannabis Inc. belongs to the Medical - Products industry, which includes 104 individual stocks and currently sits at #143 in the Zacks Industry Rank. On average, stocks in this group have lost 41.1% this year, meaning that ACB is performing better in terms of year-to-date returns. Lantheus Holdings is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on Aurora Cannabis Inc. and Lantheus Holdings as they attempt to continue their solid performance.
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