Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Accuray (ARAY) one of those stocks right now? 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.
Accuray is a member of the Medical sector. This group includes 1112 individual stocks and currently holds a Zacks Sector Rank of #11. 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 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. Accuray is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ARAY’s full-year earnings has moved 250% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the most recent data, ARAY has returned 19.4% so far this year. In comparison, Medical companies have returned an average of -6.5%. This shows that Accuray is outperforming its peers so far this year.
Another stock in the Medical sector, Assertio (ASRT), has outperformed the sector so far this year. The stock’s year-to-date return is 46.8%.
The consensus estimate for Assertio’s current year EPS has increased 78.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Accuray belongs to the Medical – Instruments industry, which includes 100 individual stocks and currently sits at #180 in the Zacks Industry Rank. Stocks in this group have gained about 11.1% so far this year, so ARAY is performing better this group in terms of year-to-date returns.
In contrast, Assertio falls under the Medical – Drugs industry. Currently, this industry has 222 stocks and is ranked #115. Since the beginning of the year, the industry has moved -16.6%.
Going forward, investors interested in Medical stocks should continue to pay close attention to Accuray and Assertio as they could maintain their solid performance.
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