Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has CareCloud, Inc. (CCLD) been one of those stocks this year? 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.
CareCloud, Inc. is a member of our Medical group, which includes 891 different companies and currently sits at #7 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CareCloud, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CCLD's full-year earnings has moved 2.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CCLD has moved about 4.5% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 6.1% on average. This means that CareCloud, Inc. is performing better than its sector in terms of year-to-date returns.
CareDx (CDNA) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 19%.
The consensus estimate for CareDx's current year EPS has increased 55.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, CareCloud, Inc. belongs to the Medical Info Systems industry, which includes 41 individual stocks and currently sits at #89 in the Zacks Industry Rank. This group has lost an average of 20.6% so far this year, so CCLD is performing better in this area.
CareDx, however, belongs to the Medical Services industry. Currently, this 62-stock industry is ranked #89. The industry has moved -10.2% so far this year.
CareCloud, Inc. and CareDx could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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This article originally published on Zacks Investment Research (zacks.com).