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Has Nextgen Healthcare (NXGN) Outpaced Other Medical Stocks This Year?
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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Nextgen Healthcare is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Nextgen Healthcare is a member of our Medical group, which includes 1160 different companies and currently sits at #10 in the Zacks Sector Rank. 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 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. Nextgen Healthcare is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NXGN's full-year earnings has moved 1.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, NXGN has gained about 4.6% so far this year. Meanwhile, stocks in the Medical group have lost about 17.7% on average. This means that Nextgen Healthcare is outperforming the sector as a whole this year.
Another stock in the Medical sector, PureTech Health PLC Sponsored ADR (PRTC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 2.3%.
Over the past three months, PureTech Health PLC Sponsored ADR's consensus EPS estimate for the current year has increased 0.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Nextgen Healthcare belongs to the Medical Info Systems industry, which includes 47 individual stocks and currently sits at #96 in the Zacks Industry Rank. This group has lost an average of 51.7% so far this year, so NXGN is performing better in this area.
In contrast, PureTech Health PLC Sponsored ADR falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 538 stocks and is ranked #157. Since the beginning of the year, the industry has moved -35.2%.
Going forward, investors interested in Medical stocks should continue to pay close attention to Nextgen Healthcare and PureTech Health PLC Sponsored ADR as they could maintain their solid performance.
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Has Nextgen Healthcare (NXGN) Outpaced Other Medical Stocks This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Nextgen Healthcare is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Nextgen Healthcare is a member of our Medical group, which includes 1160 different companies and currently sits at #10 in the Zacks Sector Rank. 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 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. Nextgen Healthcare is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for NXGN's full-year earnings has moved 1.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, NXGN has gained about 4.6% so far this year. Meanwhile, stocks in the Medical group have lost about 17.7% on average. This means that Nextgen Healthcare is outperforming the sector as a whole this year.
Another stock in the Medical sector, PureTech Health PLC Sponsored ADR (PRTC - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 2.3%.
Over the past three months, PureTech Health PLC Sponsored ADR's consensus EPS estimate for the current year has increased 0.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Nextgen Healthcare belongs to the Medical Info Systems industry, which includes 47 individual stocks and currently sits at #96 in the Zacks Industry Rank. This group has lost an average of 51.7% so far this year, so NXGN is performing better in this area.
In contrast, PureTech Health PLC Sponsored ADR falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 538 stocks and is ranked #157. Since the beginning of the year, the industry has moved -35.2%.
Going forward, investors interested in Medical stocks should continue to pay close attention to Nextgen Healthcare and PureTech Health PLC Sponsored ADR as they could maintain their solid performance.