Are Medical Stocks Lagging Apyx Medical (APYX) 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 Apyx Medical (APYX) one of those stocks right now? 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.
Apyx Medical is a member of our Medical group, which includes 1091 different companies and currently sits at #3 in the Zacks Sector Rank. 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 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. Apyx Medical is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for APYX's full-year earnings has moved 8.5% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that APYX has returned about 2.6% since the start of the calendar year. Meanwhile, stocks in the Medical group have lost about 10% on average. This shows that Apyx Medical is outperforming its peers so far this year.
Another stock in the Medical sector, CymaBay Therapeutics Inc. (CBAY), has outperformed the sector so far this year. The stock's year-to-date return is 140.4%.
The consensus estimate for CymaBay Therapeutics Inc.'s current year EPS has increased 11.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Apyx Medical is a member of the Medical - Products industry, which includes 94 individual companies and currently sits at #138 in the Zacks Industry Rank. On average, this group has lost an average of 13.1% so far this year, meaning that APYX is performing better in terms of year-to-date returns.
On the other hand, CymaBay Therapeutics Inc. belongs to the Medical - Generic Drugs industry. This 15-stock industry is currently ranked #72. The industry has moved +12% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to Apyx Medical and CymaBay Therapeutics Inc. as they could maintain their solid performance.
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Apyx Medical Corporation (APYX) : Free Stock Analysis Report
CymaBay Therapeutics Inc. (CBAY) : Free Stock Analysis Report
