Investors focused on the Medical space have likely heard of Haemonetics (HAE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of HAE and the rest of the Medical group's stocks.
Haemonetics is a member of our Medical group, which includes 902 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. HAE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for HAE's full-year earnings has moved 5.90% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, HAE has gained about 5.15% so far this year. In comparison, Medical companies have returned an average of 3.27%. As we can see, Haemonetics is performing better than its sector in the calendar year.
Breaking things down more, HAE is a member of the Medical - Products industry, which includes 85 individual companies and currently sits at #74 in the Zacks Industry Rank. On average, this group has gained an average of 4.46% so far this year, meaning that HAE is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track HAE. The stock will be looking to continue its solid performance.