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Are Medical Stocks Lagging Axonics (AXNX) 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. Is Axonics Modulation Technologies (AXNX - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Axonics Modulation Technologies is a member of the Medical sector. This group includes 1185 individual stocks and currently holds a Zacks Sector Rank of #5. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Axonics Modulation Technologies is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for AXNX's full-year earnings has moved 15.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, AXNX has moved about 29.9% on a year-to-date basis. In comparison, Medical companies have returned an average of -15.7%. This means that Axonics Modulation Technologies is performing better than its sector in terms of year-to-date returns.

Another Medical stock, which has outperformed the sector so far this year, is Assertio (ASRT - Free Report) . The stock has returned 59.2% year-to-date.

For Assertio, the consensus EPS estimate for the current year has increased 41.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Axonics Modulation Technologies belongs to the Medical Info Systems industry, a group that includes 49 individual companies and currently sits at #88 in the Zacks Industry Rank. On average, stocks in this group have lost 33.4% this year, meaning that AXNX is performing better in terms of year-to-date returns.

On the other hand, Assertio belongs to the Medical - Drugs industry. This 221-stock industry is currently ranked #74. The industry has moved -19.7% year to date.

Going forward, investors interested in Medical stocks should continue to pay close attention to Axonics Modulation Technologies and Assertio as they could maintain their solid performance.


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Assertio Holdings, Inc. (ASRT) - free report >>

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