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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Thermo Fisher Scientific Inc. (TMO): Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.