Yahoo Finance Are Medical Stocks Lagging Alvotech (ALVO) This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Alvotech (ALVO) 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.
Alvotech is a member of the Medical sector. This group includes 1042 individual stocks and currently holds a Zacks Sector Rank of #7. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Alvotech is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALVO's full-year earnings has moved 16.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ALVO has moved about 16% on a year-to-date basis. At the same time, Medical stocks have gained an average of 6.4%. This means that Alvotech is outperforming the sector as a whole this year.
One other Medical stock that has outperformed the sector so far this year is Atossa Genetics Inc. (ATOS). The stock is up 21.6% year-to-date.
Over the past three months, Atossa Genetics Inc.'s consensus EPS estimate for the current year has increased 17.9%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Alvotech belongs to the Medical - Biomedical and Genetics industry, a group that includes 501 individual stocks and currently sits at #88 in the Zacks Industry Rank. This group has lost an average of 2.2% so far this year, so ALVO is performing better in this area.
In contrast, Atossa Genetics Inc. falls under the Medical - Instruments industry. Currently, this industry has 91 stocks and is ranked #163. Since the beginning of the year, the industry has moved +5.2%.
Investors interested in the Medical sector may want to keep a close eye on Alvotech and Atossa Genetics Inc. as they attempt to continue their solid performance.
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