Is ResMed (RMD) Stock Outpacing Its Medical Peers This Year?
Investors focused on the Medical space have likely heard of ResMed (RMD), but is the stock performing well in comparison to the rest of its sector peers? 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.
ResMed is a member of the Medical sector. This group includes 927 individual stocks and currently holds a Zacks Sector Rank of #12. 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. RMD is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for RMD's full-year earnings has moved 7.54% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that RMD has returned about 32.95% since the start of the calendar year. In comparison, Medical companies have returned an average of 1.17%. This means that ResMed is outperforming the sector as a whole this year.
Looking more specifically, RMD belongs to the Medical - Products industry, which includes 79 individual stocks and currently sits at #116 in the Zacks Industry Rank. On average, stocks in this group have gained 1.37% this year, meaning that RMD is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to RMD as it looks to continue its solid performance.
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