Is Axonics (AXNX) Outperforming 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? 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.
Axonics Modulation Technologies is one of 1183 individual stocks in the Medical sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. 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 15.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, AXNX has moved about 6.8% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -17.2% on a year-to-date basis. This means that Axonics Modulation Technologies is outperforming the sector as a whole this year.
GlycoMimetics (GLYC) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 48.6%.
The consensus estimate for GlycoMimetics' current year EPS has increased 12.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Axonics Modulation Technologies belongs to the Medical Info Systems industry, which includes 49 individual stocks and currently sits at #148 in the Zacks Industry Rank. On average, stocks in this group have lost 65% this year, meaning that AXNX is performing better in terms of year-to-date returns.
In contrast, GlycoMimetics falls under the Medical - Drugs industry. Currently, this industry has 218 stocks and is ranked #92. Since the beginning of the year, the industry has moved -31%.
Investors with an interest in Medical stocks should continue to track Axonics Modulation Technologies and GlycoMimetics. These stocks will be looking to continue their solid performance.
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Axonics Inc. (AXNX) : Free Stock Analysis Report
GlycoMimetics, Inc. (GLYC) : Free Stock Analysis Report
