For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Bioventus (BVS) 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.
Bioventus is a member of our Medical group, which includes 886 different companies and currently sits at #6 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).
Over the past 90 days, the Zacks Consensus Estimate for BVS' full-year earnings has moved 25.6% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that BVS has returned about 42.2% since the start of the calendar year. At the same time, Medical stocks have lost an average of 7.7%. This means that Bioventus is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is Allarity Therapeutics, Inc. (ALLR). The stock has returned 25% year-to-date.
For Allarity Therapeutics, Inc., the consensus EPS estimate for the current year has increased 1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bioventus belongs to the Medical - Drugs industry, a group that includes 133 individual stocks and currently sits at #143 in the Zacks Industry Rank. Stocks in this group have lost about 7.4% so far this year, so BVS is performing better this group in terms of year-to-date returns.
On the other hand, Allarity Therapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry. This 430-stock industry is currently ranked #139. The industry has moved -1.6% year to date.
Bioventus and Allarity Therapeutics, Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Bioventus Inc. (BVS): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).