Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Masimo (MASI - 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.
Masimo is one of 867 individual stocks in the Medical sector. Collectively, these companies sit 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 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. MASI is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MASI's full-year earnings has moved 2.27% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, MASI has moved about 43.20% on a year-to-date basis. At the same time, Medical stocks have gained an average of 3.95%. As we can see, Masimo is performing better than its sector in the calendar year.
To break things down more, MASI belongs to the Medical - Instruments industry, a group that includes 96 individual companies and currently sits at #74 in the Zacks Industry Rank. This group has gained an average of 14.12% so far this year, so MASI is performing better in this area.
Going forward, investors interested in Medical stocks should continue to pay close attention to MASI as it looks to continue its solid performance.