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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 Kala Pharmaceuticals (KALA) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Kala Pharmaceuticals is a member of the Medical sector. This group includes 899 individual stocks and currently holds a Zacks Sector Rank of #3. 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. KALA is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for KALA's full-year earnings has moved 5.73% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, KALA has gained about 114.90% so far this year. Meanwhile, the Medical sector has returned an average of -9.44% on a year-to-date basis. This means that Kala Pharmaceuticals is performing better than its sector in terms of year-to-date returns.
Looking more specifically, KALA belongs to the Medical - Biomedical and Genetics industry, a group that includes 385 individual stocks and currently sits at #100 in the Zacks Industry Rank. On average, stocks in this group have lost 7.33% this year, meaning that KALA is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on KALA as it attempts to continue its solid performance.
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