Investors focused on the Medical space have likely heard of Amedisys (AMED - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 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. AMED is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AMED's full-year earnings has moved 1.23% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AMED has moved about 14.18% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 1.95% on a year-to-date basis. This means that Amedisys is performing better than its sector in terms of year-to-date returns.
Breaking things down more, AMED is a member of the Medical - Outpatient and Home Healthcare industry, which includes 17 individual companies and currently sits at #55 in the Zacks Industry Rank. Stocks in this group have gained about 11.28% so far this year, so AMED 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 AMED as it looks to continue its solid performance.