For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. HealthEquity (HQY) 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? One simple way to answer this question is to take a look at the year-to-date performance of HQY and the rest of the Medical group's stocks.
HealthEquity is one of 818 individual stocks in the Medical sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. HQY is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HQY's full-year earnings has moved 19.90% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that HQY has returned about 94.11% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 10.01% on average. This means that HealthEquity is performing better than its sector in terms of year-to-date returns.
Looking more specifically, HQY belongs to the Medical Services industry, which includes 34 individual stocks and currently sits at #102 in the Zacks Industry Rank. On average, this group has gained an average of 32.69% so far this year, meaning that HQY is performing better in terms of year-to-date returns.
HQY will likely be looking to continue its solid performance, so investors interested Medical stocks should continue to pay close attention to the company.
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