The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Edwards Lifesciences (EW - 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? One simple way to answer this question is to take a look at the year-to-date performance of EW and the rest of the Medical group's stocks.
Edwards Lifesciences is one of 818 individual stocks in the Medical sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. EW is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for EW's full-year earnings has moved 1% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, EW has gained about 24.01% so far this year. Meanwhile, stocks in the Medical group have gained about 2.71% on average. This means that Edwards Lifesciences is outperforming the sector as a whole this year.
Breaking things down more, EW is a member of the Medical - Instruments industry, which includes 92 individual companies and currently sits at #84 in the Zacks Industry Rank. This group has gained an average of 16% so far this year, so EW is performing better in this area.
EW will likely be looking to continue its solid performance, so investors interested Medical stocks should continue to pay close attention to the company.