Is InMode (INMD) Outperforming Other Medical Stocks This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is InMode (INMD) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
InMode is one of 1143 individual stocks in the Medical sector. Collectively, these companies sit at #6 in 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. InMode is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for INMD's full-year earnings has moved 5.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that INMD has returned about 0.3% since the start of the calendar year. In comparison, Medical companies have returned an average of -2%. This means that InMode is outperforming the sector as a whole this year.
Adma Biologics (ADMA) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 3.1%.
The consensus estimate for Adma Biologics' current year EPS has increased 55.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, InMode belongs to the Medical - Products industry, a group that includes 99 individual companies and currently sits at #55 in the Zacks Industry Rank. Stocks in this group have gained about 2% so far this year, so INMD is slightly underperforming its industry this group in terms of year-to-date returns.
On the other hand, Adma Biologics belongs to the Medical - Biomedical and Genetics industry. This 551-stock industry is currently ranked #109. The industry has moved -5.7% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to InMode and Adma Biologics as they could maintain their solid performance.
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InMode Ltd. (INMD) : Free Stock Analysis Report
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