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Is Medtronic (MDT) Outperforming Other Medical Stocks This Year?

Zacks Equity Research

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Medtronic (MDT) 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.

Medtronic is a member of our Medical group, which includes 867 different companies and currently sits at #3 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. MDT is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for MDT's full-year earnings has moved 1.91% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Our latest available data shows that MDT has returned about 21.35% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 2.96% on a year-to-date basis. This means that Medtronic is performing better than its sector in terms of year-to-date returns.

Breaking things down more, MDT is a member of the Medical - Products industry, which includes 80 individual companies and currently sits at #73 in the Zacks Industry Rank. Stocks in this group have gained about 18.47% so far this year, so MDT 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 MDT as it looks to continue its solid performance.


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