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Is Amgen (AMGN) Outperforming Other Medical Stocks This Year?

Zacks Equity Research

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Amgen (AMGN) 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.

Amgen is one of 866 companies in the Medical group. The Medical group currently sits at #3 within 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 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. AMGN is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for AMGN's full-year earnings has moved 2.19% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the most recent data, AMGN has returned 5.71% so far this year. Meanwhile, the Medical sector has returned an average of 2.51% on a year-to-date basis. This means that Amgen is outperforming the sector as a whole this year.

To break things down more, AMGN belongs to the Medical - Biomedical and Genetics industry, a group that includes 367 individual companies and currently sits at #83 in the Zacks Industry Rank. Stocks in this group have lost about 1.61% so far this year, so AMGN is performing better this group in terms of year-to-date returns.

AMGN 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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Zacks Investment Research