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Has Axonics (AXNX) Outpaced Other Medical Stocks This Year?
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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Axonics Modulation Technologies (AXNX - Free Report) 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.
Axonics Modulation Technologies is one of 1181 individual stocks in the Medical sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Axonics Modulation Technologies is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AXNX's full-year earnings has moved 7.1% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AXNX has moved about 1.1% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -14.4% on a year-to-date basis. This means that Axonics Modulation Technologies is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is Bellus Health . The stock has returned 0.6% year-to-date.
The consensus estimate for Bellus Health's current year EPS has increased 1.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Axonics Modulation Technologies is a member of the Medical Info Systems industry, which includes 48 individual companies and currently sits at #148 in the Zacks Industry Rank. This group has lost an average of 37.4% so far this year, so AXNX is performing better in this area.
On the other hand, Bellus Health belongs to the Medical - Biomedical and Genetics industry. This 550-stock industry is currently ranked #103. The industry has moved -22.5% year to date.
Axonics Modulation Technologies and Bellus Health could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Has Axonics (AXNX) Outpaced Other Medical Stocks This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Axonics Modulation Technologies (AXNX - Free Report) 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.
Axonics Modulation Technologies is one of 1181 individual stocks in the Medical sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Axonics Modulation Technologies is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AXNX's full-year earnings has moved 7.1% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, AXNX has moved about 1.1% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -14.4% on a year-to-date basis. This means that Axonics Modulation Technologies is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is Bellus Health . The stock has returned 0.6% year-to-date.
The consensus estimate for Bellus Health's current year EPS has increased 1.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Axonics Modulation Technologies is a member of the Medical Info Systems industry, which includes 48 individual companies and currently sits at #148 in the Zacks Industry Rank. This group has lost an average of 37.4% so far this year, so AXNX is performing better in this area.
On the other hand, Bellus Health belongs to the Medical - Biomedical and Genetics industry. This 550-stock industry is currently ranked #103. The industry has moved -22.5% year to date.
Axonics Modulation Technologies and Bellus Health could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.