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Has Accuray (ARAY) Outpaced Other Medical Stocks This Year?
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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Accuray (ARAY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of ARAY and the rest of the Medical group's stocks.
Accuray is a member of our Medical group, which includes 901 different companies and currently sits at #2 in the Zacks Sector Rank. 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. ARAY is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ARAY's full-year earnings has moved 38.10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ARAY has gained about 22.34% so far this year. Meanwhile, stocks in the Medical group have gained about 2.18% on average. As we can see, Accuray is performing better than its sector in the calendar year.
Looking more specifically, ARAY belongs to the Medical - Instruments industry, which includes 96 individual stocks and currently sits at #73 in the Zacks Industry Rank. Stocks in this group have gained about 5.10% so far this year, so ARAY 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 ARAY as it looks to continue its solid performance.
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Has Accuray (ARAY) Outpaced Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Accuray (ARAY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of ARAY and the rest of the Medical group's stocks.
Accuray is a member of our Medical group, which includes 901 different companies and currently sits at #2 in the Zacks Sector Rank. 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. ARAY is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ARAY's full-year earnings has moved 38.10% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ARAY has gained about 22.34% so far this year. Meanwhile, stocks in the Medical group have gained about 2.18% on average. As we can see, Accuray is performing better than its sector in the calendar year.
Looking more specifically, ARAY belongs to the Medical - Instruments industry, which includes 96 individual stocks and currently sits at #73 in the Zacks Industry Rank. Stocks in this group have gained about 5.10% so far this year, so ARAY 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 ARAY as it looks to continue its solid performance.