Is Haemonetics (HAE) Stock Outpacing Its Medical Peers This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Haemonetics (HAE) 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.
Haemonetics is a member of our Medical group, which includes 1095 different companies and currently sits at #7 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 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. Haemonetics is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for HAE's full-year earnings has moved 7.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, HAE has gained about 10.9% so far this year. Meanwhile, the Medical sector has returned an average of -8.2% on a year-to-date basis. This means that Haemonetics is performing better than its sector in terms of year-to-date returns.
Another Medical stock, which has outperformed the sector so far this year, is Amneal Pharmaceuticals (AMRX). The stock has returned 118.1% year-to-date.
The consensus estimate for Amneal Pharmaceuticals' current year EPS has increased 12.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Haemonetics belongs to the Medical - Products industry, which includes 95 individual stocks and currently sits at #89 in the Zacks Industry Rank. On average, stocks in this group have lost 8.2% this year, meaning that HAE is performing better in terms of year-to-date returns.
In contrast, Amneal Pharmaceuticals falls under the Medical - Drugs industry. Currently, this industry has 193 stocks and is ranked #89. Since the beginning of the year, the industry has moved -11.7%.
Investors interested in the Medical sector may want to keep a close eye on Haemonetics and Amneal Pharmaceuticals as they attempt to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Haemonetics Corporation (HAE) : Free Stock Analysis Report
AMNEAL PHARMACEUTICALS, INC. (AMRX) : Free Stock Analysis Report
