The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. ChromaDex (CDXC) 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? Let's take a closer look at the stock's year-to-date performance to find out.
ChromaDex is one of 1015 individual stocks in the Medical sector. Collectively, these companies sit at #6 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. ChromaDex is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CDXC's full-year earnings has moved 142.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CDXC has returned about 164.3% since the start of the calendar year. At the same time, Medical stocks have gained an average of 8.9%. This means that ChromaDex is performing better than its sector in terms of year-to-date returns.
Clover Health Investments, Corp. (CLOV) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 203.5%.
For Clover Health Investments, Corp. the consensus EPS estimate for the current year has increased 38.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, ChromaDex is a member of the Medical - Biomedical and Genetics industry, which includes 495 individual companies and currently sits at #84 in the Zacks Industry Rank. This group has lost an average of 1.9% so far this year, so CDXC is performing better in this area.
In contrast, Clover Health Investments, Corp. falls under the Medical Info Systems industry. Currently, this industry has 41 stocks and is ranked #67. Since the beginning of the year, the industry has moved -8.5%.
Investors interested in the Medical sector may want to keep a close eye on ChromaDex and Clover Health Investments, Corp. as they attempt to continue their solid performance.
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