Is Surmodics (SRDX) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Surmodics (SRDX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Surmodics is a member of our Medical group, which includes 756 different companies and currently sits at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SRDX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SRDX's full-year earnings has moved 2,250% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SRDX has moved about 162.86% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 11.06% on a year-to-date basis. This means that Surmodics is performing better than its sector in terms of year-to-date returns.
Breaking things down more, SRDX is a member of the Medical - Products industry, which includes 69 individual companies and currently sits at #178 in the Zacks Industry Rank. This group has gained an average of 21.38% so far this year, so SRDX is performing better in this area.
SRDX will likely be looking to continue its solid performance, so investors interested Medical stocks should continue to pay close attention to the company.
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