For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is HealthEquity (HQY) one of those stocks right now? 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.
HealthEquity is one of 867 companies in the Medical group. The Medical group currently sits at #3 within 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 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. HQY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for HQY's full-year earnings has moved 7.84% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that HQY has returned about 37.44% since the start of the calendar year. In comparison, Medical companies have returned an average of 3.80%. As we can see, HealthEquity is performing better than its sector in the calendar year.
Looking more specifically, HQY belongs to the Medical Services industry, which includes 33 individual stocks and currently sits at #71 in the Zacks Industry Rank. On average, stocks in this group have lost 7.31% this year, meaning that HQY is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on HQY as it attempts to continue its solid performance.
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