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Has AbbVie (ABBV) Outpaced Other Medical Stocks This Year?

Zacks Equity Research
·2-min read

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has AbbVie (ABBV) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

AbbVie is one of 889 companies in the Medical group. The Medical group currently sits at #1 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ABBV is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for ABBV's full-year earnings has moved 5.87% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the latest available data, ABBV has gained about 3.31% so far this year. In comparison, Medical companies have returned an average of -0.87%. This shows that AbbVie is outperforming its peers so far this year.

Looking more specifically, ABBV belongs to the Large Cap Pharmaceuticals industry, a group that includes 15 individual stocks and currently sits at #16 in the Zacks Industry Rank. On average, this group has gained an average of 0.76% so far this year, meaning that ABBV is performing better in terms of year-to-date returns.

ABBV 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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AbbVie Inc. (ABBV) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research