Yahoo Finance Is Edwards Lifesciences (EW) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Edwards Lifesciences (EW) been one of those stocks this year? 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.
Edwards Lifesciences is one of 1050 companies in the Medical group. The Medical group currently sits at #5 within 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. Edwards Lifesciences is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for EW's full-year earnings has moved 0.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, EW has gained about 11% so far this year. Meanwhile, stocks in the Medical group have gained about 1.5% on average. As we can see, Edwards Lifesciences is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is SNDL Inc. (SNDL). The stock is up 50.6% year-to-date.
Over the past three months, SNDL Inc.'s consensus EPS estimate for the current year has increased 44.4%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Edwards Lifesciences belongs to the Medical - Instruments industry, which includes 92 individual stocks and currently sits at #143 in the Zacks Industry Rank. On average, this group has gained an average of 3% so far this year, meaning that EW is performing better in terms of year-to-date returns.
SNDL Inc. however, belongs to the Medical - Products industry. Currently, this 91-stock industry is ranked #157. The industry has moved +3.2% so far this year.
Edwards Lifesciences and SNDL Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Edwards Lifesciences Corporation (EW) : Free Stock Analysis Report
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