Investors focused on the Medical space have likely heard of Thermo Fisher Scientific (TMO), but is the stock performing well in comparison to the rest of its sector peers? 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.
Thermo Fisher Scientific is a member of the Medical sector. This group includes 1122 individual stocks and currently holds a Zacks Sector Rank of #15. 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. TMO is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for TMO's full-year earnings has moved 0.22% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, TMO has moved about 24.24% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -8.58% on a year-to-date basis. As we can see, Thermo Fisher Scientific is performing better than its sector in the calendar year.
Looking more specifically, TMO belongs to the Medical - Instruments industry, which includes 101 individual stocks and currently sits at #155 in the Zacks Industry Rank. On average, stocks in this group have gained 5.68% this year, meaning that TMO is performing better in terms of year-to-date returns.
TMO will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%.
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
Today, Download Marijuana Moneymakers FREE >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Thermo Fisher Scientific Inc. (NYSE:TMO): Free Stock Analysis Report
To read this article on Zacks.com click here.