Are Medical Stocks Lagging Edwards Lifesciences (EW) This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Edwards Lifesciences (EW) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Edwards Lifesciences is a member of the Medical sector. This group includes 1062 individual stocks and currently holds a Zacks Sector Rank of #4. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Edwards Lifesciences is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for EW's full-year earnings has moved 0.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, EW has returned 23% so far this year. Meanwhile, the Medical sector has returned an average of 6.7% on a year-to-date basis. This means that Edwards Lifesciences is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, Avinger (AVGR), has outperformed the sector so far this year. The stock's year-to-date return is 8.5%.
The consensus estimate for Avinger's current year EPS has increased 8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Edwards Lifesciences belongs to the Medical - Instruments industry, a group that includes 91 individual stocks and currently sits at #72 in the Zacks Industry Rank. This group has gained an average of 7.9% so far this year, so EW is performing better in this area. Avinger is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on Edwards Lifesciences and Avinger 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
Edwards Lifesciences Corporation (EW) : Free Stock Analysis Report
Avinger, Inc. (AVGR) : Free Stock Analysis Report
