Investors focused on the Medical space have likely heard of ResMed (RMD - Free Report) , 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 RMD and the rest of the Medical group's stocks.
ResMed is a member of the Medical sector. This group includes 933 individual stocks and currently holds a Zacks Sector Rank of #14. 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. RMD is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for RMD's full-year earnings has moved 4.44% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, RMD has gained about 14.74% so far this year. At the same time, Medical stocks have gained an average of 1.60%. As we can see, ResMed is performing better than its sector in the calendar year.
Looking more specifically, RMD belongs to the Medical - Products industry, which includes 80 individual stocks and currently sits at #159 in the Zacks Industry Rank. This group has gained an average of 1.13% so far this year, so RMD is performing better in this area.
Going forward, investors interested in Medical stocks should continue to pay close attention to RMD as it looks to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Investors focused on the Medical space have likely heard of ResMed (RMD - Free Report) , 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 RMD and the rest of the Medical group's stocks.
ResMed is a member of the Medical sector. This group includes 933 individual stocks and currently holds a Zacks Sector Rank of #14. 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. RMD is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for RMD's full-year earnings has moved 4.44% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, RMD has gained about 14.74% so far this year. At the same time, Medical stocks have gained an average of 1.60%. As we can see, ResMed is performing better than its sector in the calendar year.
Looking more specifically, RMD belongs to the Medical - Products industry, which includes 80 individual stocks and currently sits at #159 in the Zacks Industry Rank. This group has gained an average of 1.13% so far this year, so RMD is performing better in this area.
Going forward, investors interested in Medical stocks should continue to pay close attention to RMD as it looks to continue its solid performance.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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