For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is HeartSciences Inc. (HSCS) 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.
HeartSciences Inc. is a member of our Medical group, which includes 916 different companies and currently sits at #6 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 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. HeartSciences Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for HSCS' full-year earnings has moved 0.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that HSCS has returned about 15.2% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 5.1% on average. This shows that HeartSciences Inc. is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is ImmunityBio (IBRX). The stock has returned 336.4% year-to-date.
For ImmunityBio, the consensus EPS estimate for the current year has increased 6.3% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, HeartSciences Inc. belongs to the Medical Info Systems industry, which includes 41 individual stocks and currently sits at #97 in the Zacks Industry Rank. This group has gained an average of 24.3% so far this year, so HSCS is slightly underperforming its industry in this area.
In contrast, ImmunityBio falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 449 stocks and is ranked #105. Since the beginning of the year, the industry has moved +5.7%.
HeartSciences Inc. and ImmunityBio could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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HeartSciences Inc. (HSCS): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).