The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is ALX Oncology Holdings Inc. (ALXO) one of those stocks right now? 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.
ALX Oncology Holdings Inc. is a member of the Medical sector. This group includes 914 individual stocks and currently holds a Zacks Sector Rank of #7. 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. ALX Oncology Holdings Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ALXO's full-year earnings has moved 7.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ALXO has moved about 82.3% on a year-to-date basis. In comparison, Medical companies have returned an average of 3.5%. This means that ALX Oncology Holdings Inc. is outperforming the sector as a whole this year.
One other Medical stock that has outperformed the sector so far this year is Medpace (MEDP). The stock is up 7.3% year-to-date.
Over the past three months, Medpace's consensus EPS estimate for the current year has increased 2.9%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, ALX Oncology Holdings Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 439 individual stocks and currently sits at #152 in the Zacks Industry Rank. On average, this group has gained an average of 6% so far this year, meaning that ALXO is performing better in terms of year-to-date returns.
In contrast, Medpace falls under the Medical Services industry. Currently, this industry has 72 stocks and is ranked #88. Since the beginning of the year, the industry has moved +2.1%.
Investors with an interest in Medical stocks should continue to track ALX Oncology Holdings Inc. and Medpace. These stocks will be looking to continue their solid performance.
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