For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Medtronic (MDT - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Medtronic is one of 866 individual stocks in the Medical sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MDT is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MDT's full-year earnings has moved 1.93% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MDT has returned 16.59% so far this year. In comparison, Medical companies have returned an average of 0.83%. This means that Medtronic is outperforming the sector as a whole this year.
Looking more specifically, MDT belongs to the Medical - Products industry, a group that includes 79 individual stocks and currently sits at #68 in the Zacks Industry Rank. Stocks in this group have gained about 14.53% so far this year, so MDT is performing better this group in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track MDT. The stock will be looking 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 >>
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Medtronic (MDT - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Medtronic is one of 866 individual stocks in the Medical sector. Collectively, these companies sit at #4 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MDT is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MDT's full-year earnings has moved 1.93% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MDT has returned 16.59% so far this year. In comparison, Medical companies have returned an average of 0.83%. This means that Medtronic is outperforming the sector as a whole this year.
Looking more specifically, MDT belongs to the Medical - Products industry, a group that includes 79 individual stocks and currently sits at #68 in the Zacks Industry Rank. Stocks in this group have gained about 14.53% so far this year, so MDT is performing better this group in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track MDT. The stock will be looking 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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