Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Concentra Group (CON) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Concentra Group is one of 1009 individual stocks in the Medical sector. Collectively, these companies sit at #3 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 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. Concentra Group is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CON's full-year earnings has moved 5.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CON has gained about 15.8% so far this year. In comparison, Medical companies have returned an average of 6.3%. This means that Concentra Group is performing better than its sector in terms of year-to-date returns.
Another Medical stock, which has outperformed the sector so far this year, is Cencora (COR). The stock has returned 11.6% year-to-date.
For Cencora, the consensus EPS estimate for the current year has increased 3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Concentra Group is a member of the Medical Services industry, which includes 59 individual companies and currently sits at #84 in the Zacks Industry Rank. This group has gained an average of 4.3% so far this year, so CON is performing better in this area. Cencora is also part of the same industry.
Concentra Group and Cencora could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).
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