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Is OBALON THERPTCS (OBLN) Stock Outpacing Its Medical Peers This Year?

Zacks Equity Research

Investors focused on the Medical space have likely heard of OBALON THERPTCS (OBLN), but is the stock performing well in comparison to the rest of its sector peers? 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.

OBALON THERPTCS is a member of our Medical group, which includes 905 different companies and currently sits at #3 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 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. OBLN is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for OBLN's full-year earnings has moved 58.06% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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Based on the most recent data, OBLN has returned 3.68% so far this year. Meanwhile, stocks in the Medical group have gained about 2.22% on average. As we can see, OBALON THERPTCS is performing better than its sector in the calendar year.

Looking more specifically, OBLN belongs to the Medical - Instruments industry, a group that includes 96 individual stocks and currently sits at #161 in the Zacks Industry Rank. On average, this group has gained an average of 3.16% so far this year, meaning that OBLN is performing better in terms of year-to-date returns.

OBLN 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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