Has Patterson Companies (PDCO) Outpaced Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Patterson Companies (PDCO) 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? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Patterson Companies is one of 930 individual stocks in the Medical sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. PDCO is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for PDCO's full-year earnings has moved 17.17% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, PDCO has gained about 40.92% so far this year. Meanwhile, stocks in the Medical group have gained about 2.01% on average. This means that Patterson Companies is performing better than its sector in terms of year-to-date returns.
Breaking things down more, PDCO is a member of the Medical - Dental Supplies industry, which includes 22 individual companies and currently sits at #63 in the Zacks Industry Rank. On average, this group has gained an average of 15.09% so far this year, meaning that PDCO is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track PDCO. The stock will be looking to continue its solid performance.
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