Are Medical Stocks Lagging InMode (INMD) This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is InMode (INMD) 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.
InMode is one of 1119 companies in the Medical group. The Medical group currently sits at #9 within the Zacks Sector Rank. 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. InMode is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for INMD's full-year earnings has moved 2.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that INMD has returned about 22.6% since the start of the calendar year. In comparison, Medical companies have returned an average of -1.7%. As we can see, InMode is performing better than its sector in the calendar year.
Akebia Therapeutics (AKBA) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 154.8%.
In Akebia Therapeutics' case, the consensus EPS estimate for the current year increased 34.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, InMode belongs to the Medical - Products industry, a group that includes 99 individual stocks and currently sits at #110 in the Zacks Industry Rank. On average, stocks in this group have gained 7% this year, meaning that INMD is performing better in terms of year-to-date returns.
On the other hand, Akebia Therapeutics belongs to the Medical - Drugs industry. This 201-stock industry is currently ranked #102. The industry has moved +0.6% year to date.
Investors with an interest in Medical stocks should continue to track InMode and Akebia Therapeutics. These stocks will be looking to continue their solid performance.
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InMode Ltd. (INMD) : Free Stock Analysis Report
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