Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Elevance Health (ELV) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Elevance Health is one of 917 companies in the Medical group. The Medical group currently sits at #10 within 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 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. Elevance Health is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ELV's full-year earnings has moved 1.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ELV has moved about 8.9% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 0.2% on average. This means that Elevance Health is performing better than its sector in terms of year-to-date returns.
Another Medical stock, which has outperformed the sector so far this year, is American Well Corporation (AMWL). The stock has returned 161.1% year-to-date.
For American Well Corporation, the consensus EPS estimate for the current year has increased 4.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Elevance Health belongs to the Medical Services industry, which includes 70 individual stocks and currently sits at #95 in the Zacks Industry Rank. On average, stocks in this group have gained 1.5% this year, meaning that ELV is performing better in terms of year-to-date returns.
On the other hand, American Well Corporation belongs to the Medical Info Systems industry. This 41-stock industry is currently ranked #87. The industry has moved +19% year to date.
Investors with an interest in Medical stocks should continue to track Elevance Health and American Well Corporation. These stocks will be looking to continue their solid performance.
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Elevance Health, Inc. (ELV): Free Stock Analysis Report
American Well Corporation (AMWL): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).