The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. ConforMIS (CFMS) 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.
ConforMIS is one of 838 individual stocks in the Medical sector. Collectively, these companies sit at #3 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. CFMS is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CFMS's full-year earnings has moved 21.89% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, CFMS has returned 81.59% so far this year. In comparison, Medical companies have returned an average of 6.02%. This means that ConforMIS is outperforming the sector as a whole this year.
To break things down more, CFMS belongs to the Medical - Instruments industry, a group that includes 90 individual companies and currently sits at #67 in the Zacks Industry Rank. This group has gained an average of 9.79% so far this year, so CFMS is performing better in this area.
Investors with an interest in Medical stocks should continue to track CFMS. The stock will be looking to continue its solid performance.
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