The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. ALX Oncology Holdings Inc. (ALXO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
ALX Oncology Holdings Inc. is a member of the Medical sector. This group includes 888 individual stocks and currently holds a Zacks Sector Rank of #9. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ALX Oncology Holdings Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALXO's full-year earnings has moved 28.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ALXO has moved about 84.1% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 8.3% on average. This means that ALX Oncology Holdings Inc. is outperforming the sector as a whole this year.
Another stock in the Medical sector, Biodesix, Inc. (BDSX), has outperformed the sector so far this year. The stock's year-to-date return is 136.9%.
In Biodesix, Inc.'s case, the consensus EPS estimate for the current year increased 20.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, ALX Oncology Holdings Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 432 individual companies and currently sits at #136 in the Zacks Industry Rank. On average, stocks in this group have lost 0.5% this year, meaning that ALXO is performing better in terms of year-to-date returns.
In contrast, Biodesix, Inc. falls under the Medical Services industry. Currently, this industry has 63 stocks and is ranked #99. Since the beginning of the year, the industry has moved -11.7%.
Investors interested in the Medical sector may want to keep a close eye on ALX Oncology Holdings Inc. and Biodesix, Inc. as they attempt to continue their solid performance.
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ALX Oncology Holdings Inc. (ALXO): Free Stock Analysis Report
Biodesix, Inc. (BDSX): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).