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Is AmerisourceBergen (ABC) Outperforming Other Medical Stocks This Year?

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is AmerisourceBergen (ABC) one of those stocks right now? 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.

AmerisourceBergen is one of 1145 companies in the Medical group. The Medical group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AmerisourceBergen is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ABC's full-year earnings has moved 2.2% 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, ABC has gained about 2.1% so far this year. At the same time, Medical stocks have lost an average of 0.9%. As we can see, AmerisourceBergen is performing better than its sector in the calendar year.

Another Medical stock, which has outperformed the sector so far this year, is Align Technology (ALGN). The stock has returned 45.5% year-to-date.

For Align Technology, the consensus EPS estimate for the current year has increased 3.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, AmerisourceBergen belongs to the Medical - Dental Supplies industry, a group that includes 18 individual stocks and currently sits at #44 in the Zacks Industry Rank. Stocks in this group have gained about 9.3% so far this year, so ABC is slightly underperforming its industry this group in terms of year-to-date returns. Align Technology is also part of the same industry.

Investors with an interest in Medical stocks should continue to track AmerisourceBergen and Align Technology. These stocks will be looking to continue their solid performance.

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AmerisourceBergen Corporation (ABC) : Free Stock Analysis Report

Align Technology, Inc. (ALGN) : Free Stock Analysis Report

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Zacks Investment Research