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Has Axonics (AXNX) Outpaced Other Medical Stocks This Year?

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Axonics Modulation Technologies (AXNX) 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? Let's take a closer look at the stock's year-to-date performance to find out.

Axonics Modulation Technologies is one of 1184 companies in the Medical group. The Medical group currently sits at #6 within 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. Axonics Modulation Technologies is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for AXNX's full-year earnings has moved 14.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, AXNX has returned 16.5% so far this year. Meanwhile, the Medical sector has returned an average of -22.9% on a year-to-date basis. This shows that Axonics Modulation Technologies is outperforming its peers so far this year.

Another stock in the Medical sector, Molina (MOH), has outperformed the sector so far this year. The stock's year-to-date return is 3.4%.

Over the past three months, Molina's consensus EPS estimate for the current year has increased 2.8%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Axonics Modulation Technologies belongs to the Medical Info Systems industry, a group that includes 49 individual stocks and currently sits at #94 in the Zacks Industry Rank. On average, this group has lost an average of 40.2% so far this year, meaning that AXNX is performing better in terms of year-to-date returns.

In contrast, Molina falls under the Medical - HMOs industry. Currently, this industry has 8 stocks and is ranked #162. Since the beginning of the year, the industry has moved +2.5%.

Investors interested in the Medical sector may want to keep a close eye on Axonics Modulation Technologies and Molina as they attempt to continue their solid performance.

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Molina Healthcare, Inc (MOH) : Free Stock Analysis Report
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