Has Evolus (EOLS) 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. Is Evolus, Inc. (EOLS) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Evolus, Inc. is a member of our Medical group, which includes 1185 different companies and currently sits at #8 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Evolus, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for EOLS' full-year earnings has moved 6.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, EOLS has returned 86.9% so far this year. In comparison, Medical companies have returned an average of -12.8%. This means that Evolus, Inc. is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Computer Programs and Systems (CPSI). The stock is up 5.4% year-to-date.
For Computer Programs and Systems, the consensus EPS estimate for the current year has increased 7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Evolus, Inc. belongs to the Medical - Products industry, a group that includes 95 individual companies and currently sits at #176 in the Zacks Industry Rank. This group has lost an average of 19.2% so far this year, so EOLS is performing better in this area.
Computer Programs and Systems, however, belongs to the Medical Info Systems industry. Currently, this 49-stock industry is ranked #163. The industry has moved -30.1% so far this year.
Investors with an interest in Medical stocks should continue to track Evolus, Inc. and Computer Programs and Systems. These stocks will be looking to continue their solid performance.
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