Yahoo Finance Is Ocugen (OCGN) Stock Outpacing Its Medical Peers This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Ocugen (OCGN) 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.
Ocugen 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 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. Ocugen is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for OCGN's full-year earnings has moved 9.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, OCGN has returned 131.3% so far this year. Meanwhile, the Medical sector has returned an average of 5.7% on a year-to-date basis. This means that Ocugen is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Organon (OGN). The stock is up 44.5% year-to-date.
In Organon's case, the consensus EPS estimate for the current year increased 5.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Ocugen belongs to the Medical - Biomedical and Genetics industry, a group that includes 501 individual companies and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have lost 4% this year, meaning that OCGN is performing better in terms of year-to-date returns.
In contrast, Organon falls under the Medical Services industry. Currently, this industry has 58 stocks and is ranked #91. Since the beginning of the year, the industry has moved +4.6%.
Investors with an interest in Medical stocks should continue to track Ocugen and Organon. These stocks will be looking to continue their solid performance.
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Ocugen, Inc. (OCGN) : Free Stock Analysis Report
Organon & Co. (OGN) : Free Stock Analysis Report
