Yahoo Finance Are Medical Stocks Lagging DaVita (DVA) This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has DaVita HealthCare (DVA) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
DaVita HealthCare is a member of the Medical sector. This group includes 1042 individual stocks and currently holds a Zacks Sector Rank of #9. 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 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. DaVita HealthCare is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DVA's full-year earnings has moved 4.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that DVA has returned about 36.4% since the start of the calendar year. At the same time, Medical stocks have gained an average of 6.5%. This means that DaVita HealthCare is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is Eledon Pharmaceuticals, Inc. (ELDN). The stock has returned 32.2% year-to-date.
Over the past three months, Eledon Pharmaceuticals, Inc.'s consensus EPS estimate for the current year has increased 10.8%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, DaVita HealthCare belongs to the Medical - Outpatient and Home Healthcare industry, a group that includes 19 individual companies and currently sits at #27 in the Zacks Industry Rank. On average, this group has gained an average of 8.1% so far this year, meaning that DVA is performing better in terms of year-to-date returns.
On the other hand, Eledon Pharmaceuticals, Inc. belongs to the Medical - Biomedical and Genetics industry. This 501-stock industry is currently ranked #90. The industry has moved -2.8% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to DaVita HealthCare and Eledon Pharmaceuticals, Inc. as they could maintain their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DaVita Inc. (DVA) : Free Stock Analysis Report
Eledon Pharmaceuticals, Inc. (ELDN) : Free Stock Analysis Report
