Yahoo Finance Are Medical Stocks Lagging OrganiGram (OGI) This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has OrganiGram (OGI) been one of those stocks this year? 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.
OrganiGram is one of 1051 companies in the Medical group. The Medical group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. OrganiGram is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for OGI's full-year earnings has moved 1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, OGI has moved about 42% on a year-to-date basis. At the same time, Medical stocks have gained an average of 0.8%. This means that OrganiGram is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, ResMed (RMD), has outperformed the sector so far this year. The stock's year-to-date return is 6.6%.
The consensus estimate for ResMed's current year EPS has increased 1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, OrganiGram is a member of the Medical - Products industry, which includes 91 individual companies and currently sits at #140 in the Zacks Industry Rank. On average, this group has gained an average of 1.8% so far this year, meaning that OGI is performing better in terms of year-to-date returns. ResMed is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on OrganiGram and ResMed as they attempt to continue their solid performance.
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Organigram Holdings Inc. (OGI) : Free Stock Analysis Report
ResMed Inc. (RMD) : Free Stock Analysis Report
