Investors focused on the Medical space have likely heard of HealthEquity (HQY), but is the stock performing well in comparison to the rest of its sector peers? 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.
HealthEquity is a member of the Medical sector. This group includes 845 individual stocks and currently holds a Zacks Sector Rank of #2. 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics 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 19.90% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that HQY has returned about 81.20% since the start of the calendar year. In comparison, Medical companies have returned an average of 2.42%. 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 34 individual stocks and currently sits at #100 in the Zacks Industry Rank. Stocks in this group have gained about 27.39% so far this year, so HQY is performing better this group 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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