Advertisement
Canada markets open in 4 hours 23 minutes

  • S&P/TSX

    21,708.44
    +52.39 (+0.24%)
     

  • S&P 500

    5,011.12
    -11.09 (-0.22%)
     

  • DOW

    37,775.38
    +22.07 (+0.06%)
     

  • CAD/USD

    0.7268
    +0.0004 (+0.06%)
     

  • CRUDE OIL

    83.16
    +0.43 (+0.52%)
     

  • Bitcoin CAD

    88,804.05
    +4,321.20 (+5.11%)
     

  • CMC Crypto 200

    1,330.13
    +17.50 (+1.33%)
     

  • GOLD FUTURES

    2,398.80
    +0.80 (+0.03%)
     

  • RUSSELL 2000

    1,942.96
    -4.99 (-0.26%)
     

  • 10-Yr Bond

    4.6470
    0.0000 (0.00%)
     

  • NASDAQ futures

    17,416.50
    -130.75 (-0.75%)
     

  • VOLATILITY

    19.91
    +1.91 (+10.61%)
     

  • FTSE

    7,820.93
    -56.12 (-0.71%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6823
    +0.0002 (+0.03%)
     

Is ResMed (RMD) Stock Outpacing Its Medical Peers This Year?

Zacks Equity Research

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. ResMed (RMD) 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? One simple way to answer this question is to take a look at the year-to-date performance of RMD and the rest of the Medical group's stocks.

ResMed is a member of our Medical group, which includes 894 different companies and currently sits at #1 in 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 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. RMD is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for RMD's full-year earnings has moved 0.82% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

ADVERTISEMENT

Based on the most recent data, RMD has returned 5.03% so far this year. At the same time, Medical stocks have lost an average of 1.49%. As we can see, ResMed is performing better than its sector in the calendar year.

Looking more specifically, RMD belongs to the Medical - Products industry, which includes 82 individual stocks and currently sits at #27 in the Zacks Industry Rank. On average, stocks in this group have lost 4.68% this year, meaning that RMD is performing better in terms of year-to-date returns.

RMD will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.


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
 
ResMed Inc. (RMD) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.