Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has AxoGen (AXGN) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
AxoGen is a member of the Medical sector. This group includes 974 individual stocks and currently holds a Zacks Sector Rank of #7. 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. AxoGen is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for AXGN's full-year earnings has moved 27.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, AXGN has moved about 1.9% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 0.7% on average. As we can see, AxoGen is performing better than its sector in the calendar year.
Arcutis Biotherapeutics, Inc. (ARQT) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 27%.
Over the past three months, Arcutis Biotherapeutics, Inc.'s consensus EPS estimate for the current year has increased 20.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, AxoGen belongs to the Medical - Instruments industry, a group that includes 83 individual companies and currently sits at #94 in the Zacks Industry Rank. On average, this group has lost an average of 9.1% so far this year, meaning that AXGN is performing better in terms of year-to-date returns.
Arcutis Biotherapeutics, Inc., however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 485-stock industry is ranked #97. The industry has moved +5.6% so far this year.
Going forward, investors interested in Medical stocks should continue to pay close attention to AxoGen and Arcutis Biotherapeutics, Inc. as they could maintain their solid performance.
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AxoGen, Inc. (AXGN): Free Stock Analysis Report Arcutis Biotherapeutics, Inc. (ARQT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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