Is Genomic Health (GHDX) Outperforming Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Genomic Health (GHDX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Genomic Health is one of 838 individual stocks in the Medical sector. Collectively, these companies sit at #2 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 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. GHDX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for GHDX's full-year earnings has moved 95.93% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, GHDX has moved about 85.29% on a year-to-date basis. At the same time, Medical stocks have lost an average of 5.70%. This means that Genomic Health is performing better than its sector in terms of year-to-date returns.
Looking more specifically, GHDX belongs to the Medical - Biomedical and Genetics industry, a group that includes 340 individual stocks and currently sits at #73 in the Zacks Industry Rank. This group has lost an average of 23.01% so far this year, so GHDX is performing better in this area.
Investors with an interest in Medical stocks should continue to track GHDX. The stock will be looking to continue its solid performance.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.