Is Pacira BioSciences (PCRX) Outperforming Other Medical Stocks This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Pacira BioSciences (PCRX) 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? One simple way to answer this question is to take a look at the year-to-date performance of PCRX and the rest of the Medical group's stocks.
Pacira BioSciences is a member of the Medical sector. This group includes 933 individual stocks and currently holds a Zacks Sector Rank of #14. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. PCRX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PCRX's full-year earnings has moved 10.53% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, PCRX has returned 23.60% so far this year. Meanwhile, stocks in the Medical group have gained about 1.58% on average. This means that Pacira BioSciences is performing better than its sector in terms of year-to-date returns.
Breaking things down more, PCRX is a member of the Medical - Drugs industry, which includes 181 individual companies and currently sits at #165 in the Zacks Industry Rank. On average, this group has lost an average of 6.05% so far this year, meaning that PCRX is performing better in terms of year-to-date returns.
PCRX will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
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