Are Medical Stocks Lagging Brainsway (BWAY) This Year?

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Brainsway Ltd. Sponsored ADR (BWAY) 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? 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.

Brainsway Ltd. Sponsored ADR is a member of the Medical sector. This group includes 889 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Brainsway Ltd. Sponsored ADR is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for BWAY's full-year earnings has moved 12.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, BWAY has returned 77.1% so far this year. Meanwhile, stocks in the Medical group have lost about 7.5% on average. This means that Brainsway Ltd. Sponsored ADR is outperforming the sector as a whole this year.

One other Medical stock that has outperformed the sector so far this year is CG Oncology, Inc. (CGON). The stock is up 59.6% year-to-date.

Over the past three months, CG Oncology, Inc.'s consensus EPS estimate for the current year has increased 8.9%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Brainsway Ltd. Sponsored ADR belongs to the Medical - Products industry, a group that includes 78 individual stocks and currently sits at #168 in the Zacks Industry Rank. On average, stocks in this group have lost 22% this year, meaning that BWAY is performing better in terms of year-to-date returns.

CG Oncology, Inc., however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 433-stock industry is ranked #139. The industry has moved -2.4% so far this year.

Investors interested in the Medical sector may want to keep a close eye on Brainsway Ltd. Sponsored ADR and CG Oncology, Inc. as they attempt to continue their solid performance.

Zacks' Research Chief Names "Stock Most Likely to Double"

Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.

This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.

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

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research