Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is AbCellera Biologics Inc. (ABCL) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
AbCellera Biologics Inc. is a member of the Medical sector. This group includes 886 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. AbCellera Biologics Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ABCL's full-year earnings has moved 25.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ABCL has returned about 48.8% since the start of the calendar year. Meanwhile, stocks in the Medical group have lost about 4.3% on average. As we can see, AbCellera Biologics Inc. is performing better than its sector in the calendar year.
Another stock in the Medical sector, Agilon Health (AGL), has outperformed the sector so far this year. The stock's year-to-date return is 557.9%.
In Agilon Health's case, the consensus EPS estimate for the current year increased 44.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, AbCellera Biologics Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 431 individual companies and currently sits at #150 in the Zacks Industry Rank. Stocks in this group have lost about 1.6% so far this year, so ABCL is performing better this group in terms of year-to-date returns.
In contrast, Agilon Health falls under the Medical Services industry. Currently, this industry has 62 stocks and is ranked #148. Since the beginning of the year, the industry has moved -6.5%.
Investors with an interest in Medical stocks should continue to track AbCellera Biologics Inc. and Agilon Health. These stocks will be looking to continue their solid performance.
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AbCellera Biologics Inc. (ABCL): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).