Investors focused on the Medical space have likely heard of Chemed (CHE - 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.
Chemed is one of 889 companies in the Medical group. The Medical group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. CHE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CHE's full-year earnings has moved 2.48% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that CHE has returned about 6.04% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -0.87% on a year-to-date basis. This means that Chemed is outperforming the sector as a whole this year.
Looking more specifically, CHE belongs to the Medical - Outpatient and Home Healthcare industry, which includes 17 individual stocks and currently sits at #122 in the Zacks Industry Rank. This group has lost an average of 3.65% so far this year, so CHE is performing better in this area.
Investors with an interest in Medical stocks should continue to track CHE. The stock will be looking to continue its solid performance.