In This Article:
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is ChromaDex (CDXC) 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.
ChromaDex is a member of our Medical group, which includes 1025 different companies and currently sits at #2 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ChromaDex is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CDXC's full-year earnings has moved 142.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CDXC has returned about 140.6% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 7.5% on a year-to-date basis. This means that ChromaDex is performing better than its sector in terms of year-to-date returns.
Another Medical stock, which has outperformed the sector so far this year, is Bioventus (BVS). The stock has returned 138.1% year-to-date.
Over the past three months, Bioventus' consensus EPS estimate for the current year has increased 48.2%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, ChromaDex belongs to the Medical - Biomedical and Genetics industry, a group that includes 504 individual companies and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 0.3% so far this year, so CDXC is performing better in this area.
On the other hand, Bioventus belongs to the Medical - Drugs industry. This 171-stock industry is currently ranked #71. The industry has moved -1.1% year to date.
Investors with an interest in Medical stocks should continue to track ChromaDex and Bioventus. These stocks will be looking to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ChromaDex Corporation (CDXC) : Free Stock Analysis Report