Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Masimo (MASI - 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 MASI and the rest of the Medical group's stocks.
Masimo is one of 899 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MASI is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MASI's full-year earnings has moved 0.47% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, MASI has returned 15.55% so far this year. In comparison, Medical companies have returned an average of -10.53%. This means that Masimo is performing better than its sector in terms of year-to-date returns.
Breaking things down more, MASI is a member of the Medical - Instruments industry, which includes 96 individual companies and currently sits at #53 in the Zacks Industry Rank. On average, this group has lost an average of 10.14% so far this year, meaning that MASI is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on MASI as it attempts to continue its solid performance.