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Is Addus HomeCare (ADUS) Outperforming 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. Has Addus HomeCare (ADUS - 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.
Addus HomeCare is one of 1170 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. Addus HomeCare is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ADUS' full-year earnings has moved 2.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, ADUS has moved about 4.2% on a year-to-date basis. At the same time, Medical stocks have lost an average of 3.7%. This shows that Addus HomeCare is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Alcon (ALC - Free Report) . The stock has returned 0.1% year-to-date.
In Alcon's case, the consensus EPS estimate for the current year increased 3.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Addus HomeCare belongs to the Medical - Outpatient and Home Healthcare industry, which includes 19 individual stocks and currently sits at #83 in the Zacks Industry Rank. On average, stocks in this group have gained 3% this year, meaning that ADUS is performing better in terms of year-to-date returns.
Alcon, however, belongs to the Medical - Instruments industry. Currently, this 98-stock industry is ranked #95. The industry has moved +0.2% so far this year.
Investors interested in the Medical sector may want to keep a close eye on Addus HomeCare and Alcon as they attempt to continue their solid performance.