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Has Medtronic (MDT) Outpaced Other Medical Stocks This Year?

Zacks Equity Research

Investors focused on the Medical space have likely heard of Medtronic (MDT), but is the stock performing well in comparison to the rest of its sector peers? 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.

Medtronic is a member of the Medical sector. This group includes 867 individual stocks and currently holds a Zacks Sector Rank of #3. 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. MDT is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for MDT's full-year earnings has moved 1.91% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that MDT has returned about 17.99% since the start of the calendar year. In comparison, Medical companies have returned an average of 0.76%. This means that Medtronic is performing better than its sector in terms of year-to-date returns.

To break things down more, MDT belongs to the Medical - Products industry, a group that includes 80 individual companies and currently sits at #75 in the Zacks Industry Rank. On average, stocks in this group have gained 14.41% this year, meaning that MDT is performing better in terms of year-to-date returns.

MDT will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.


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