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Is MedAvail (MDVL) Outperforming Other Medical Stocks This Year?
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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. MedAvail Holdings, Inc. 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? 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.
MedAvail Holdings, Inc. is a member of our Medical group, which includes 1185 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. MedAvail Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MDVL's full-year earnings has moved 39.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that MDVL has returned about 19.3% since the start of the calendar year. In comparison, Medical companies have returned an average of -14%. This means that MedAvail Holdings, Inc. is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Mirum Pharmaceuticals, Inc. (MIRM - Free Report) . The stock is up 51.8% year-to-date.
In Mirum Pharmaceuticals, Inc.'s case, the consensus EPS estimate for the current year increased 16.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MedAvail Holdings, Inc. belongs to the Medical Services industry, which includes 65 individual stocks and currently sits at #179 in the Zacks Industry Rank. Stocks in this group have lost about 33.4% so far this year, so MDVL is performing better this group in terms of year-to-date returns.
On the other hand, Mirum Pharmaceuticals, Inc. belongs to the Medical - Biomedical and Genetics industry. This 551-stock industry is currently ranked #151. The industry has moved -23.7% year to date.
Investors with an interest in Medical stocks should continue to track MedAvail Holdings, Inc. and Mirum Pharmaceuticals, Inc. These stocks will be looking to continue their solid performance.
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Is MedAvail (MDVL) Outperforming Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. MedAvail Holdings, Inc. 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? 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.
MedAvail Holdings, Inc. is a member of our Medical group, which includes 1185 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. MedAvail Holdings, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MDVL's full-year earnings has moved 39.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that MDVL has returned about 19.3% since the start of the calendar year. In comparison, Medical companies have returned an average of -14%. This means that MedAvail Holdings, Inc. is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Mirum Pharmaceuticals, Inc. (MIRM - Free Report) . The stock is up 51.8% year-to-date.
In Mirum Pharmaceuticals, Inc.'s case, the consensus EPS estimate for the current year increased 16.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, MedAvail Holdings, Inc. belongs to the Medical Services industry, which includes 65 individual stocks and currently sits at #179 in the Zacks Industry Rank. Stocks in this group have lost about 33.4% so far this year, so MDVL is performing better this group in terms of year-to-date returns.
On the other hand, Mirum Pharmaceuticals, Inc. belongs to the Medical - Biomedical and Genetics industry. This 551-stock industry is currently ranked #151. The industry has moved -23.7% year to date.
Investors with an interest in Medical stocks should continue to track MedAvail Holdings, Inc. and Mirum Pharmaceuticals, Inc. These stocks will be looking to continue their solid performance.