Investors focused on the Medical space have likely heard of NeoGenomics (NEO), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
NeoGenomics is a member of our Medical group, which includes 840 different companies and currently sits at #2 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NEO is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for NEO's full-year earnings has moved 28% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NEO has returned about 26.86% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -9.57% on a year-to-date basis. This means that NeoGenomics is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NEO belongs to the Medical - Biomedical and Genetics industry, which includes 340 individual stocks and currently sits at #74 in the Zacks Industry Rank. This group has lost an average of 27.24% so far this year, so NEO is performing better in this area.
Investors with an interest in Medical stocks should continue to track NEO. The stock will be looking to continue its solid performance.
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