Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Medpace (MEDP) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Medpace is a member of the Medical sector. This group includes 957 individual stocks and currently holds a Zacks Sector Rank of #8. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Medpace is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MEDP's full-year earnings has moved 10.4% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MEDP has returned 59.8% so far this year. Meanwhile, stocks in the Medical group have gained about 1.8% on average. This means that Medpace is outperforming the sector as a whole this year.
Black Diamond (BDTX) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 86.5%.
In Black Diamond's case, the consensus EPS estimate for the current year increased 48.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, Medpace belongs to the Medical Services industry, a group that includes 64 individual companies and currently sits at #155 in the Zacks Industry Rank. This group has lost an average of 0.3% so far this year, so MEDP is performing better in this area.
On the other hand, Black Diamond belongs to the Medical - Biomedical and Genetics industry. This 470-stock industry is currently ranked #96. The industry has moved +8.7% year to date.
Medpace and Black Diamond could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Medpace Holdings, Inc. (MEDP): Free Stock Analysis Report Black Diamond Therapeutics, Inc. (BDTX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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