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 756 companies in the Medical group. The Medical group currently sits at #6 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 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).
The Zacks Consensus Estimate for HQY's full-year earnings has moved 18.51% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, HQY has moved about 96.31% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 6.92% on average. This means that HealthEquity is outperforming the sector as a whole this year.
Breaking things down more, HQY is a member of the Medical Services industry, which includes 31 individual companies and currently sits at #86 in the Zacks Industry Rank. On average, this group has gained an average of 31.14% so far 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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