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Is AbbVie (ABBV) Stock Outpacing Its Medical Peers This Year?

Zacks Equity Research
·2 min read

Investors focused on the Medical space have likely heard of AbbVie (ABBV), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of ABBV and the rest of the Medical group's stocks.

AbbVie is a member of our Medical group, which includes 904 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. ABBV is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for ABBV's full-year earnings has moved 0.11% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the latest available data, ABBV has gained about 12.21% so far this year. In comparison, Medical companies have returned an average of 1.18%. This means that AbbVie is outperforming the sector as a whole this year.

Looking more specifically, ABBV belongs to the Large Cap Pharmaceuticals industry, a group that includes 15 individual stocks and currently sits at #29 in the Zacks Industry Rank. This group has gained an average of 0.56% so far this year, so ABBV is performing better in this area.

ABBV will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.


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