For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Guardant Health (GH) 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.
Guardant Health is a member of our Medical group, which includes 889 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. GH is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for GH's full-year earnings has moved 13.50% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, GH has gained about 75.71% so far this year. Meanwhile, stocks in the Medical group have gained about 0.70% on average. This means that Guardant Health is performing better than its sector in terms of year-to-date returns.
Looking more specifically, GH belongs to the Medical - Biomedical and Genetics industry, which includes 377 individual stocks and currently sits at #73 in the Zacks Industry Rank. This group has lost an average of 1.84% so far this year, so GH is performing better in this area.
Investors with an interest in Medical stocks should continue to track GH. The stock will be looking to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.