Are Medical Stocks Lagging HealthEquity (HQY) This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has HealthEquity (HQY) been one of those stocks this year? 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.
HealthEquity is one of 1087 individual stocks in the Medical sector. Collectively, these companies sit at #2 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 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. HealthEquity is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for HQY's full-year earnings has moved 13.1% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, HQY has gained about 10.8% so far this year. At the same time, Medical stocks have lost an average of 8.9%. This shows that HealthEquity is outperforming its peers so far this year.
Corbus Pharmaceuticals (CRBP) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 16.6%.
In Corbus Pharmaceuticals' case, the consensus EPS estimate for the current year increased 4.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, HealthEquity belongs to the Medical Services industry, which includes 65 individual stocks and currently sits at #84 in the Zacks Industry Rank. Stocks in this group have lost about 12.6% so far this year, so HQY is performing better this group in terms of year-to-date returns.
On the other hand, Corbus Pharmaceuticals belongs to the Medical - Drugs industry. This 192-stock industry is currently ranked #91. The industry has moved -13.7% year to date.
HealthEquity and Corbus Pharmaceuticals could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Corbus Pharmaceuticals Holdings, Inc. (CRBP) : Free Stock Analysis Report
