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Investors focused on the Medical space have likely heard of Patterson Companies (PDCO), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of PDCO and the rest of the Medical group's stocks.
Patterson Companies is one of 980 companies in the Medical group. The Medical group currently sits at #15 within 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 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).
The Zacks Consensus Estimate for PDCO's full-year earnings has moved 22.92% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that PDCO has returned about 5.53% since the start of the calendar year. At the same time, Medical stocks have gained an average of 1.18%. As we can see, Patterson Companies is performing better than its sector in the calendar year.
Looking more specifically, PDCO belongs to the Medical - Dental Supplies industry, which includes 22 individual stocks and currently sits at #109 in the Zacks Industry Rank. This group has gained an average of 3.02% so far this year, so PDCO is performing better in this area.
Going forward, investors interested in Medical stocks should continue to pay close attention to PDCO as it looks to continue its solid performance.
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