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Is CareCloud (CCLD) Outperforming Other Medical Stocks This Year?
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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. CareCloud, Inc. (CCLD - 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? Let's take a closer look at the stock's year-to-date performance to find out.
CareCloud, Inc. is one of 1025 companies in the Medical group. The Medical group currently sits at #4 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 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. CareCloud, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CCLD's full-year earnings has moved 142.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CCLD has moved about 38.2% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 7.5% on a year-to-date basis. As we can see, CareCloud, Inc. is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Annexon, Inc. (ANNX - Free Report) . The stock is up 33.9% year-to-date.
Over the past three months, Annexon, Inc.'s consensus EPS estimate for the current year has increased 28.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CareCloud, Inc. belongs to the Medical Info Systems industry, which includes 42 individual stocks and currently sits at #70 in the Zacks Industry Rank. On average, this group has lost an average of 13.7% so far this year, meaning that CCLD is performing better in terms of year-to-date returns.
Annexon, Inc. however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 500-stock industry is ranked #75. The industry has moved -0.7% so far this year.
Investors interested in the Medical sector may want to keep a close eye on CareCloud, Inc. and Annexon, Inc. as they attempt to continue their solid performance.
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Is CareCloud (CCLD) Outperforming Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. CareCloud, Inc. (CCLD - 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? Let's take a closer look at the stock's year-to-date performance to find out.
CareCloud, Inc. is one of 1025 companies in the Medical group. The Medical group currently sits at #4 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 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. CareCloud, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CCLD's full-year earnings has moved 142.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CCLD has moved about 38.2% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 7.5% on a year-to-date basis. As we can see, CareCloud, Inc. is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Annexon, Inc. (ANNX - Free Report) . The stock is up 33.9% year-to-date.
Over the past three months, Annexon, Inc.'s consensus EPS estimate for the current year has increased 28.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CareCloud, Inc. belongs to the Medical Info Systems industry, which includes 42 individual stocks and currently sits at #70 in the Zacks Industry Rank. On average, this group has lost an average of 13.7% so far this year, meaning that CCLD is performing better in terms of year-to-date returns.
Annexon, Inc. however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 500-stock industry is ranked #75. The industry has moved -0.7% so far this year.
Investors interested in the Medical sector may want to keep a close eye on CareCloud, Inc. and Annexon, Inc. as they attempt to continue their solid performance.