Are Medical Stocks Lagging Cigna Group (CI) This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Cigna (CI) been one of those stocks this year? 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.
Cigna is a member of the Medical sector. This group includes 1077 individual stocks and currently holds a Zacks Sector Rank of #3. 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. Cigna is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CI's full-year earnings has moved 0.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CI has returned 4.5% so far this year. At the same time, Medical stocks have gained an average of 0.3%. This means that Cigna is performing better than its sector in terms of year-to-date returns.
Akoya Biosciences (AKYA) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 3.1%.
Over the past three months, Akoya Biosciences' consensus EPS estimate for the current year has increased 24.5%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Cigna is a member of the Medical - HMOs industry, which includes 8 individual companies and currently sits at #24 in the Zacks Industry Rank. On average, this group has gained an average of 1.5% so far this year, meaning that CI is performing better in terms of year-to-date returns.
On the other hand, Akoya Biosciences belongs to the Medical - Biomedical and Genetics industry. This 523-stock industry is currently ranked #71. The industry has moved -11.1% year to date.
Investors with an interest in Medical stocks should continue to track Cigna and Akoya Biosciences. These stocks will be looking to continue their solid performance.
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Cigna Group (CI) : Free Stock Analysis Report
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