For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Amedisys (AMED - Free Report) one of those stocks right now? 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.
Amedisys is a member of our Medical group, which includes 839 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. AMED is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMED's full-year earnings has moved 0.81% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that AMED has returned about 8.90% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 3.01% on a year-to-date basis. This means that Amedisys is outperforming the sector as a whole this year.
To break things down more, AMED belongs to the Medical - Outpatient and Home Healthcare industry, a group that includes 17 individual companies and currently sits at #53 in the Zacks Industry Rank. On average, this group has gained an average of 4.79% so far this year, meaning that AMED is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track AMED. The stock will be looking to continue its solid performance.