Investors focused on the Medical space have likely heard of Stryker (SYK - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Stryker is a member of the Medical sector. This group includes 763 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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. SYK is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for SYK's full-year earnings has moved 1.47% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, SYK has gained about 9.49% so far this year. In comparison, Medical companies have returned an average of 2.33%. This means that Stryker is outperforming the sector as a whole this year.
Breaking things down more, SYK is a member of the Medical - Products industry, which includes 70 individual companies and currently sits at #179 in the Zacks Industry Rank. Stocks in this group have gained about 10.69% so far this year, so SYK is slightly underperforming its industry this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to SYK as it looks to continue its solid performance.