For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Stryker (SYK) one of those stocks right now? 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.
Stryker is one of 889 companies in the Medical group. The Medical group currently sits at #3 within 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. SYK is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SYK's full-year earnings has moved 0.34% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, SYK has gained about 34.26% so far this year. In comparison, Medical companies have returned an average of 0.70%. This shows that Stryker is outperforming its peers so far this year.
Breaking things down more, SYK is a member of the Medical - Products industry, which includes 80 individual companies and currently sits at #96 in the Zacks Industry Rank. This group has gained an average of 11.18% so far this year, so SYK is performing better in this area.
Investors in the Medical sector will want to keep a close eye on SYK as it attempts to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.