Investors focused on the Medical space have likely heard of HealthEquity (HQY - 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.
HealthEquity is a member of the Medical sector. This group includes 841 individual stocks and currently holds a Zacks Sector Rank of #2. 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 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. HQY is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for HQY's full-year earnings has moved 1.75% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, HQY has moved about 49.36% on a year-to-date basis. At the same time, Medical stocks have gained an average of 2.55%. This means that HealthEquity is outperforming the sector as a whole this year.
Breaking things down more, HQY is a member of the Medical Services industry, which includes 34 individual companies and currently sits at #74 in the Zacks Industry Rank. Stocks in this group have gained about 25.37% so far this year, so HQY is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to HQY as it looks to continue its solid performance.