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Is AbbVie (ABBV) Outperforming Other Medical Stocks This Year?

Zacks Equity Research
·2-min read

Investors focused on the Medical space have likely heard of AbbVie (ABBV), but is the stock performing well in comparison to the rest of its sector peers? 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.

AbbVie is a member of our Medical group, which includes 888 different companies and currently sits at #1 in 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).

Within the past quarter, the Zacks Consensus Estimate for ABBV's full-year earnings has moved 1.71% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Our latest available data shows that ABBV has returned about 2.65% since the start of the calendar year. Meanwhile, stocks in the Medical group have lost about 0.35% on average. This means that AbbVie is performing better than its sector in terms of year-to-date returns.

Breaking things down more, ABBV is a member of the Large Cap Pharmaceuticals industry, which includes 15 individual companies and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 0.48% so far this year, so ABBV is performing better in this area.

Going forward, investors interested in Medical stocks should continue to pay close attention to ABBV as it looks to continue its solid performance.


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Zacks Investment Research