The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Cencora (COR) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Cencora is a member of our Medical group, which includes 1002 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Cencora is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for COR's full-year earnings has moved 0.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, COR has returned 27.6% so far this year. Meanwhile, stocks in the Medical group have lost about 5.6% on average. This means that Cencora is outperforming the sector as a whole this year.
Intensity Therapeutics Inc. (INTS) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 5.1%.
Over the past three months, Intensity Therapeutics Inc.'s consensus EPS estimate for the current year has increased 9.6%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cencora belongs to the Medical Services industry, which includes 58 individual stocks and currently sits at #86 in the Zacks Industry Rank. This group has lost an average of 3% so far this year, so COR is performing better in this area.
In contrast, Intensity Therapeutics Inc. falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 508 stocks and is ranked #72. Since the beginning of the year, the industry has moved -7.7%.
Investors with an interest in Medical stocks should continue to track Cencora and Intensity Therapeutics Inc. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
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