Is AxoGen (AXGN) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is AxoGen (AXGN) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
AxoGen is one of 1073 individual stocks in the Medical sector. Collectively, these companies sit at #7 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 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. AxoGen is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AXGN's full-year earnings has moved 1.1% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AXGN has returned about 40% since the start of the calendar year. In comparison, Medical companies have returned an average of 3.9%. This means that AxoGen is outperforming the sector as a whole this year.
Another stock in the Medical sector, Boston Scientific (BSX), has outperformed the sector so far this year. The stock's year-to-date return is 11.5%.
Over the past three months, Boston Scientific's consensus EPS estimate for the current year has increased 0.8%. 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 92 individual companies and currently sits at #152 in the Zacks Industry Rank. On average, stocks in this group have gained 3.5% this year, meaning that AXGN is performing better in terms of year-to-date returns.
In contrast, Boston Scientific falls under the Medical - Products industry. Currently, this industry has 96 stocks and is ranked #165. Since the beginning of the year, the industry has moved +4.4%.
Going forward, investors interested in Medical stocks should continue to pay close attention to AxoGen and Boston Scientific as they could maintain their solid performance.
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AxoGen, Inc. (AXGN) : Free Stock Analysis Report
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