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 867 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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).
Within the past quarter, the Zacks Consensus Estimate for SYK's full-year earnings has moved 0.68% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SYK has moved about 40.47% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 3.43% on average. This shows that Stryker is outperforming its peers so far this year.
Breaking things down more, SYK is a member of the Medical - Products industry, which includes 80 individual companies and currently sits at #78 in the Zacks Industry Rank. On average, stocks in this group have gained 17.85% this year, meaning that SYK is performing better in terms of year-to-date returns.
SYK will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.