For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is CorMedix (CRMD – Free Report) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
CorMedix is a member of the Medical sector. This group includes 1020 individual stocks and currently holds a Zacks Sector Rank of #2. 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. CorMedix is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CRMD’s full-year earnings has moved 20.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CRMD has moved about 126.1% on a year-to-date basis. At the same time, Medical stocks have lost an average of 3.5%. This means that CorMedix is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is ResMed (RMD – Free Report) . The stock has returned 36% year-to-date.
In ResMed’s case, the consensus EPS estimate for the current year increased 4.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CorMedix belongs to the Medical – Biomedical and Genetics industry, a group that includes 501 individual stocks and currently sits at #61 in the Zacks Industry Rank. On average, stocks in this group have lost 11% this year, meaning that CRMD is performing better in terms of year-to-date returns.
In contrast, ResMed falls under the Medical – Products industry. Currently, this industry has 87 stocks and is ranked #127. Since the beginning of the year, the industry has moved +11.8%.
Investors with an interest in Medical stocks should continue to track CorMedix and ResMed. These stocks will be looking to continue their solid performance.
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