Are Medical Stocks Lagging Masimo (MASI) This Year?

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Masimo (MASI) 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? Let's take a closer look at the stock's year-to-date performance to find out.

Masimo is a member of our Medical group, which includes 1067 different companies and currently sits at #4 in 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 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. Masimo is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for MASI's full-year earnings has moved 10.2% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, MASI has gained about 11.8% so far this year. At the same time, Medical stocks have gained an average of 7.4%. This shows that Masimo is outperforming its peers so far this year.

Another stock in the Medical sector, CochLear Ltd. Unsponsored ADR (CHEOY), has outperformed the sector so far this year. The stock's year-to-date return is 10.2%.

For CochLear Ltd. Unsponsored ADR, the consensus EPS estimate for the current year has increased 8.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Masimo belongs to the Medical - Instruments industry, a group that includes 91 individual stocks and currently sits at #88 in the Zacks Industry Rank. Stocks in this group have gained about 6.2% so far this year, so MASI is performing better this group in terms of year-to-date returns.

In contrast, CochLear Ltd. Unsponsored ADR falls under the Medical Services industry. Currently, this industry has 59 stocks and is ranked #96. Since the beginning of the year, the industry has moved +5.7%.

Going forward, investors interested in Medical stocks should continue to pay close attention to Masimo and CochLear Ltd. Unsponsored ADR as they could maintain their solid performance.

Zacks Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.

This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.

Free: See Our Top Stock and 4 Runners Up >>

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

Masimo Corporation (MASI) : Free Stock Analysis Report

CochLear Ltd. Unsponsored ADR (CHEOY) : Free Stock Analysis Report

To read this article on click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.