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Has Medtronic (MDT) Outpaced Other Medical Stocks This Year?

Zacks Equity Research

Investors focused on the Medical space have likely heard of Medtronic (MDT), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of MDT and the rest of the Medical group's stocks.

Medtronic is a member of the Medical sector. This group includes 889 individual stocks and currently holds a Zacks Sector Rank of #2. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MDT is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for MDT's full-year earnings has moved 1.58% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Based on the most recent data, MDT has returned 18.94% so far this year. Meanwhile, the Medical sector has returned an average of -0.04% on a year-to-date basis. This means that Medtronic is outperforming the sector as a whole this year.

Looking more specifically, MDT belongs to the Medical - Products industry, which includes 80 individual stocks and currently sits at #111 in the Zacks Industry Rank. Stocks in this group have gained about 12.29% so far this year, so MDT is performing better this group in terms of year-to-date returns.

Going forward, investors interested in Medical stocks should continue to pay close attention to MDT as it looks to continue its solid performance.


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Zacks Investment Research