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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. Is Alector (ALEC) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Alector is one of 899 companies in the Medical group. The Medical group currently sits at #1 within 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. ALEC is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ALEC's full-year earnings has moved 2.46% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ALEC has returned about 34.53% since the start of the calendar year. In comparison, Medical companies have returned an average of -21.21%. This shows that Alector is outperforming its peers so far this year.
Looking more specifically, ALEC belongs to the Medical - Biomedical and Genetics industry, a group that includes 385 individual stocks and currently sits at #74 in the Zacks Industry Rank. This group has lost an average of 19.04% so far this year, so ALEC is performing better in this area.
Investors in the Medical sector will want to keep a close eye on ALEC as it attempts to continue its solid performance.
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