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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Bioventus (BVS) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Bioventus is one of 1020 individual stocks in the Medical sector. Collectively, these companies sit at #3 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. Bioventus is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BVS' full-year earnings has moved 2.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, BVS has returned 102.5% so far this year. Meanwhile, the Medical sector has returned an average of -5% on a year-to-date basis. This shows that Bioventus is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Adagene Inc. Sponsored ADR (ADAG). The stock has returned 6.1% year-to-date.
The consensus estimate for Adagene Inc. Sponsored ADR's current year EPS has increased 5.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bioventus belongs to the Medical - Drugs industry, which includes 171 individual stocks and currently sits at #73 in the Zacks Industry Rank. On average, this group has lost an average of 11.4% so far this year, meaning that BVS is performing better in terms of year-to-date returns.
Adagene Inc. Sponsored ADR, however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 501-stock industry is ranked #64. The industry has moved -12.3% so far this year.
Investors interested in the Medical sector may want to keep a close eye on Bioventus and Adagene Inc. Sponsored ADR as they attempt to continue their solid performance.
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