The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Avanos Medical (AVNS) 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? A quick glance at the company’s year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Avanos Medical is a member of the Medical sector. This group includes 1153 individual stocks and currently holds a Zacks Sector Rank of #5. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Avanos Medical is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AVNS’ full-year earnings has moved 0.9% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the most recent data, AVNS has returned 13.3% so far this year. Meanwhile, stocks in the Medical group have lost about 1.5% on average. This means that Avanos Medical is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Becton Dickinson (BDX). The stock is up 0.2% year-to-date.
For Becton Dickinson, the consensus EPS estimate for the current year has increased 2.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Avanos Medical belongs to the Medical – Instruments industry, a group that includes 95 individual stocks and currently sits at #103 in the Zacks Industry Rank. On average, this group has gained an average of 2.3% so far this year, meaning that AVNS is performing better in terms of year-to-date returns.
Becton Dickinson, however, belongs to the Medical – Dental Supplies industry. Currently, this 18-stock industry is ranked #52. The industry has moved +7.7% so far this year.
Investors interested in the Medical sector may want to keep a close eye on Avanos Medical and Becton Dickinson as they attempt to continue their solid performance.
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