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Is Medtronic (MDT) Stock Outpacing Its Medical Peers This Year?

Zacks Equity Research

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Medtronic (MDT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Medtronic is one of 866 individual stocks in the Medical sector. Collectively, these companies sit at #4 in 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. MDT is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for MDT's full-year earnings has moved 1.93% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, MDT has returned 16.59% so far this year. In comparison, Medical companies have returned an average of 0.83%. This means that Medtronic is outperforming the sector as a whole this year.

Looking more specifically, MDT belongs to the Medical - Products industry, a group that includes 79 individual stocks and currently sits at #68 in the Zacks Industry Rank. Stocks in this group have gained about 14.53% so far this year, so MDT is performing better this group in terms of year-to-date returns.

Investors with an interest in Medical stocks should continue to track MDT. The stock will be looking to continue its solid performance.


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