Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Tenet Healthcare (THC – Free Report) 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.
Tenet Healthcare is one of 977 companies in the Medical group. The Medical group currently sits at #16 within 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. THC is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for THC’s full-year earnings has moved 74.33% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, THC has gained about 27.47% so far this year. Meanwhile, stocks in the Medical group have gained about 2.71% on average. This means that Tenet Healthcare is outperforming the sector as a whole this year.
Breaking things down more, THC is a member of the Medical – Hospital industry, which includes 7 individual companies and currently sits at #49 in the Zacks Industry Rank. This group has gained an average of 5.35% so far this year, so THC is performing better in this area.
Investors with an interest in Medical stocks should continue to track THC. The stock will be looking to continue its solid performance.