Is Thermo Fisher Scientific (TMO) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Thermo Fisher Scientific (TMO) one of those stocks right now? 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.
Thermo Fisher Scientific is a member of the Medical sector. This group includes 931 individual stocks and currently holds a Zacks Sector Rank of #14. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. TMO is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for TMO's full-year earnings has moved 22.61% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, TMO has moved about 50.61% on a year-to-date basis. In comparison, Medical companies have returned an average of -1.58%. This shows that Thermo Fisher Scientific is outperforming its peers so far this year.
To break things down more, TMO belongs to the Medical - Instruments industry, a group that includes 95 individual companies and currently sits at #188 in the Zacks Industry Rank. On average, stocks in this group have gained 20.69% this year, meaning that TMO is performing better in terms of year-to-date returns.
TMO 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.