For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Clene Inc. (CLNN) 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.
Clene Inc. is a member of our Medical group, which includes 1167 different companies and currently sits at #3 in the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Clene Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CLNN's full-year earnings has moved 27.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CLNN has returned 31% so far this year. At the same time, Medical stocks have lost an average of 5.9%. As we can see, Clene 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 The Cooper Companies (COO). The stock is up 2.4% year-to-date.
Over the past three months, The Cooper Companies' consensus EPS estimate for the current year has increased 2.4%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Clene Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 553 individual companies and currently sits at #96 in the Zacks Industry Rank. On average, stocks in this group have lost 5.9% this year, meaning that CLNN is performing better in terms of year-to-date returns.
On the other hand, The Cooper Companies belongs to the Medical - Dental Supplies industry. This 18-stock industry is currently ranked #60. The industry has moved -0.8% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to Clene Inc. and The Cooper Companies as they could maintain their solid performance.
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