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Is Haemonetics (HAE) Stock Outpacing Its Medical Peers 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. Haemonetics (HAE - Free Report) 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.

Haemonetics is one of 1114 individual stocks in the Medical sector. Collectively, these companies sit at #6 in 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 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. Haemonetics is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for HAE's full-year earnings has moved 6.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, HAE has moved about 18% on a year-to-date basis. At the same time, Medical stocks have lost an average of 2.1%. This means that Haemonetics is outperforming the sector as a whole this year.

Another stock in the Medical sector, HCA Healthcare (HCA - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 12%.

The consensus estimate for HCA Healthcare's current year EPS has increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Haemonetics belongs to the Medical - Products industry, a group that includes 99 individual companies and currently sits at #106 in the Zacks Industry Rank. On average, stocks in this group have lost 0.4% this year, meaning that HAE is performing better in terms of year-to-date returns.

HCA Healthcare, however, belongs to the Medical - Hospital industry. Currently, this 5-stock industry is ranked #68. The industry has moved +9.8% so far this year.

Haemonetics and HCA Healthcare could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.

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