U.S. markets close in 1 hour 46 minutes
  • S&P 500

    3,789.21
    +3.83 (+0.10%)
     
  • Dow 30

    30,847.54
    +72.11 (+0.23%)
     
  • Nasdaq

    11,010.49
    -18.24 (-0.17%)
     
  • Russell 2000

    1,713.06
    +5.07 (+0.30%)
     
  • Crude Oil

    108.92
    +3.16 (+2.99%)
     
  • Gold

    1,805.80
    -1.50 (-0.08%)
     
  • Silver

    19.73
    -0.63 (-3.08%)
     
  • EUR/USD

    1.0417
    -0.0067 (-0.64%)
     
  • 10-Yr Bond

    2.8890
    -0.0830 (-2.79%)
     
  • GBP/USD

    1.2070
    -0.0105 (-0.86%)
     
  • USD/JPY

    135.2850
    -0.4430 (-0.33%)
     
  • BTC-USD

    19,457.52
    +356.17 (+1.86%)
     
  • CMC Crypto 200

    419.22
    -0.92 (-0.22%)
     
  • FTSE 100

    7,168.65
    -0.63 (-0.01%)
     
  • Nikkei 225

    25,935.62
    -457.42 (-1.73%)
     

Is iRadimed (IRMD) Outperforming Other Medical Stocks This Year?

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has iRadimed (IRMD) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

iRadimed is a member of the Medical sector. This group includes 1161 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. iRadimed is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for IRMD's full-year earnings has moved 16.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that IRMD has returned about 5.8% since the start of the calendar year. At the same time, Medical stocks have lost an average of 9.9%. This means that iRadimed is performing better than its sector in terms of year-to-date returns.

AllScripts Healthcare (MDRX) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 13%.

The consensus estimate for AllScripts Healthcare's current year EPS has increased 20.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, iRadimed belongs to the Medical - Instruments industry, which includes 102 individual stocks and currently sits at #171 in the Zacks Industry Rank. Stocks in this group have lost about 17.1% so far this year, so IRMD is performing better this group in terms of year-to-date returns.

In contrast, AllScripts Healthcare falls under the Medical Info Systems industry. Currently, this industry has 47 stocks and is ranked #142. Since the beginning of the year, the industry has moved -15.4%.

Investors interested in the Medical sector may want to keep a close eye on iRadimed and AllScripts Healthcare as they attempt to continue their solid performance.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
iRadimed Corporation (IRMD) : Free Stock Analysis Report
 
Allscripts Healthcare Solutions, Inc. (MDRX) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.