Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is NeoGenomics (NEO) 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.
NeoGenomics is a member of the Medical sector. This group includes 839 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. NEO is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NEO's full-year earnings has moved 16.28% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NEO has returned about 30.93% since the start of the calendar year. In comparison, Medical companies have returned an average of 2.64%. This means that NeoGenomics is outperforming the sector as a whole this year.
Looking more specifically, NEO belongs to the Medical - Biomedical and Genetics industry, which includes 345 individual stocks and currently sits at #58 in the Zacks Industry Rank. On average, this group has gained an average of 8.89% so far this year, meaning that NEO is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to NEO as it looks to continue its solid performance.
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Zacks Investment Research