Is Masimo (MASI) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Masimo (MASI) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Masimo is one of 1062 companies in the Medical group. The Medical group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Masimo is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MASI's full-year earnings has moved 12.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MASI has returned 20% so far this year. Meanwhile, the Medical sector has returned an average of 6.8% on a year-to-date basis. This means that Masimo is performing better than its sector in terms of year-to-date returns.
Another Medical stock, which has outperformed the sector so far this year, is Addus HomeCare (ADUS). The stock has returned 10.5% year-to-date.
In Addus HomeCare's case, the consensus EPS estimate for the current year increased 2.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Masimo is a member of the Medical - Instruments industry, which includes 91 individual companies and currently sits at #66 in the Zacks Industry Rank. On average, stocks in this group have gained 7.5% this year, meaning that MASI is performing better in terms of year-to-date returns.
On the other hand, Addus HomeCare belongs to the Medical - Outpatient and Home Healthcare industry. This 18-stock industry is currently ranked #92. The industry has moved +6.8% year to date.
Masimo and Addus HomeCare could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Masimo Corporation (MASI) : Free Stock Analysis Report
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