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? Let's take a closer look at the stock's year-to-date performance to find out.
HealthEquity is one of 883 individual stocks in the Medical sector. Collectively, these companies sit at #2 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. HQY is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for HQY's full-year earnings has moved 30.31% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that HQY has returned about 23.29% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 11.02% on average. As we can see, HealthEquity is performing better than its sector in the calendar year.
Breaking things down more, HQY is a member of the Medical Services industry, which includes 30 individual companies and currently sits at #98 in the Zacks Industry Rank. On average, stocks in this group have lost 3.82% this year, meaning that HQY is performing better in terms of year-to-date returns.
HQY will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.