The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Cellectar Biosciences, Inc. (CLRB – Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let’s take a closer look at the stock’s year-to-date performance to find out.
Cellectar Biosciences, Inc. is one of 1012 individual stocks in the Medical sector. Collectively, these companies sit at #4 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Cellectar Biosciences, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CLRB’s full-year earnings has moved 6.5% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CLRB has gained about 12.6% so far this year. Meanwhile, stocks in the Medical group have gained about 4.9% on average. As we can see, Cellectar Biosciences, Inc. is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Cencora (COR – Free Report) . The stock is up 16.2% year-to-date.
In Cencora’s case, the consensus EPS estimate for the current year increased 3.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cellectar Biosciences, Inc. belongs to the Medical – Products industry, a group that includes 83 individual stocks and currently sits at #126 in the Zacks Industry Rank. Stocks in this group have gained about 7.5% so far this year, so CLRB is performing better this group in terms of year-to-date returns.
In contrast, Cencora falls under the Medical Services industry. Currently, this industry has 59 stocks and is ranked #63. Since the beginning of the year, the industry has moved +5.6%.
Investors interested in the Medical sector may want to keep a close eye on Cellectar Biosciences, Inc. and Cencora as they attempt to continue their solid performance.
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