Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Chemed (CHE) been one of those stocks this year? 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.
Chemed is one of 894 individual stocks in the Medical sector. Collectively, these companies sit at #1 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 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. CHE is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CHE's full-year earnings has moved 5.74% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, CHE has gained about 3.80% so far this year. At the same time, Medical stocks have lost an average of 2.74%. This means that Chemed is outperforming the sector as a whole this year.
Breaking things down more, CHE is a member of the Medical - Outpatient and Home Healthcare industry, which includes 17 individual companies and currently sits at #83 in the Zacks Industry Rank. On average, this group has lost an average of 4.99% so far this year, meaning that CHE is performing better in terms of year-to-date returns.
CHE will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
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