For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Caribou Biosciences, Inc. (CRBU) 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.
Caribou Biosciences, Inc. is a member of our Medical group, which includes 919 different companies and currently sits at #7 in the Zacks Sector Rank. 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 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. Caribou Biosciences, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CRBU's full-year earnings has moved 10.9% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CRBU has moved about 22% on a year-to-date basis. In comparison, Medical companies have returned an average of 1.5%. This means that Caribou Biosciences, Inc. is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Bioventus (BVS). The stock is up 62.8% year-to-date.
Over the past three months, Bioventus' consensus EPS estimate for the current year has increased 3.3%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Caribou Biosciences, Inc. is a member of the Medical - Biomedical and Genetics industry, which includes 440 individual companies and currently sits at #105 in the Zacks Industry Rank. Stocks in this group have gained about 6.3% so far this year, so CRBU is performing better this group in terms of year-to-date returns.
Bioventus, however, belongs to the Medical - Drugs industry. Currently, this 139-stock industry is ranked #150. The industry has moved -0.9% so far this year.
Caribou Biosciences, Inc. and Bioventus could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Caribou Biosciences, Inc. (CRBU): Free Stock Analysis Report
Bioventus Inc. (BVS): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).