The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Biodesix, Inc. (BDSX) been one of those stocks this year? 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.
Biodesix, Inc. is a member of the Medical sector. This group includes 886 individual stocks and currently holds a Zacks Sector Rank of #10. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Biodesix, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BDSX's full-year earnings has moved 17.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BDSX has moved about 121.5% on a year-to-date basis. In comparison, Medical companies have returned an average of -3.8%. As we can see, Biodesix, Inc. is performing better than its sector in the calendar year.
BillionToOne (BLLN) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 23.6%.
Over the past three months, BillionToOne's consensus EPS estimate for the current year has increased 122%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Biodesix, Inc. belongs to the Medical Services industry, a group that includes 62 individual stocks and currently sits at #145 in the Zacks Industry Rank. On average, stocks in this group have lost 6.5% this year, meaning that BDSX is performing better in terms of year-to-date returns.
In contrast, BillionToOne falls under the Medical - Products industry. Currently, this industry has 78 stocks and is ranked #172. Since the beginning of the year, the industry has moved -23.2%.
Investors interested in the Medical sector may want to keep a close eye on Biodesix, Inc. and BillionToOne as they attempt to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).