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Is Assertio (ASRT) Stock Outpacing Its Medical Peers This Year?

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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Assertio (ASRT - Free Report) been one of those stocks this year? 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.

Assertio is a member of the Medical sector. This group includes 1189 individual stocks and currently holds a Zacks Sector Rank of #4. 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 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. Assertio is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ASRT's full-year earnings has moved 15.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, ASRT has moved about 83.5% on a year-to-date basis. In comparison, Medical companies have returned an average of -15.2%. This means that Assertio is outperforming the sector as a whole this year.

Shockwave Medical is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 23%.

In Shockwave Medical's case, the consensus EPS estimate for the current year increased 37.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Assertio is a member of the Medical - Drugs industry, which includes 223 individual companies and currently sits at #84 in the Zacks Industry Rank. This group has lost an average of 18.5% so far this year, so ASRT is performing better in this area.

On the other hand, Shockwave Medical belongs to the Medical - Instruments industry. This 104-stock industry is currently ranked #90. The industry has moved -23.5% year to date.

Assertio and Shockwave Medical could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.


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