Is Accelerate Diagnostics (AXDX) Stock Outpacing Its Medical Peers This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Accelerate Diagnostics (AXDX) 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.
Accelerate Diagnostics is one of 1137 individual stocks in the Medical sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Accelerate Diagnostics is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for AXDX's full-year earnings has moved 9.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, AXDX has returned 2% so far this year. In comparison, Medical companies have returned an average of -2.7%. This means that Accelerate Diagnostics is outperforming the sector as a whole this year.
One other Medical stock that has outperformed the sector so far this year is BellRing Brands (BRBR). The stock is up 40.5% year-to-date.
For BellRing Brands, the consensus EPS estimate for the current year has increased 3.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Accelerate Diagnostics is a member of the Medical - Instruments industry, which includes 94 individual companies and currently sits at #104 in the Zacks Industry Rank. On average, stocks in this group have gained 6.7% this year, meaning that AXDX is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, BellRing Brands belongs to the Medical - Products industry. This 98-stock industry is currently ranked #60. The industry has moved +5.5% year to date.
Investors with an interest in Medical stocks should continue to track Accelerate Diagnostics and BellRing Brands. These stocks will be looking to continue their solid performance.
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Accelerate Diagnostics, Inc. (AXDX) : Free Stock Analysis Report
BellRing Brands Inc. (BRBR) : Free Stock Analysis Report
