The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Quidel (QDEL - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Quidel is one of 902 companies in the Medical group. The Medical group currently sits at #11 within 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. QDEL is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for QDEL's full-year earnings has moved 50.43% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, QDEL has moved about 110.78% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 0.17% on a year-to-date basis. This means that Quidel is outperforming the sector as a whole this year.
Breaking things down more, QDEL is a member of the Medical - Products industry, which includes 81 individual companies and currently sits at #175 in the Zacks Industry Rank. This group has lost an average of 1.41% so far this year, so QDEL is performing better in this area.
Investors in the Medical sector will want to keep a close eye on QDEL as it attempts to continue its solid performance.