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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has ANI Pharmaceuticals (ANIP) 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.
ANI Pharmaceuticals is a member of our Medical group, which includes 1010 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. ANI Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ANIP's full-year earnings has moved 0.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ANIP has moved about 6.6% on a year-to-date basis. In comparison, Medical companies have returned an average of 4.4%. This means that ANI Pharmaceuticals is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is Doximity (DOCS). The stock has returned 44.4% year-to-date.
The consensus estimate for Doximity's current year EPS has increased 13.7% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, ANI Pharmaceuticals is a member of the Medical - Biomedical and Genetics industry, which includes 510 individual companies and currently sits at #69 in the Zacks Industry Rank. Stocks in this group have gained about 12.6% so far this year, so ANIP is slightly underperforming its industry this group in terms of year-to-date returns.
Doximity, however, belongs to the Medical Services industry. Currently, this 59-stock industry is ranked #142. The industry has moved +4.3% so far this year.
Investors with an interest in Medical stocks should continue to track ANI Pharmaceuticals and Doximity. These stocks will be looking to continue their solid performance.
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