Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. ResMed (RMD) 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? 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.
ResMed is one of 929 individual stocks in the Medical sector. Collectively, these companies sit at #10 in the Zacks Sector Rank. 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. ResMed is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for RMD's full-year earnings has moved 0.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, RMD has moved about 7% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 6.3% on average. This shows that ResMed is outperforming its peers so far this year.
Compass Therapeutics, Inc. (CMPX) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.7%.
The consensus estimate for Compass Therapeutics, Inc.'s current year EPS has increased 27.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, ResMed belongs to the Medical - Products industry, a group that includes 82 individual companies and currently sits at #155 in the Zacks Industry Rank. On average, this group has lost an average of 5.6% so far this year, meaning that RMD is performing better in terms of year-to-date returns.
On the other hand, Compass Therapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry. This 450-stock industry is currently ranked #90. The industry has moved +21.1% year to date.
Investors with an interest in Medical stocks should continue to track ResMed and Compass Therapeutics, Inc.. These stocks will be looking to continue their solid performance.
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ResMed Inc. (RMD): Free Stock Analysis Report Compass Therapeutics, Inc. (CMPX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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