Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Alector (ALEC) 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? 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.
Alector is a member of our Medical group, which includes 896 different companies and currently sits at #1 in the Zacks Sector Rank. 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 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. ALEC is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ALEC's full-year earnings has moved 2.46% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ALEC has returned 26.93% so far this year. In comparison, Medical companies have returned an average of -16.02%. As we can see, Alector is performing better than its sector in the calendar year.
To break things down more, ALEC belongs to the Medical - Biomedical and Genetics industry, a group that includes 385 individual companies and currently sits at #33 in the Zacks Industry Rank. Stocks in this group have lost about 11.09% so far this year, so ALEC is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to ALEC as it looks to continue its solid performance.
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