Yahoo Finance Is Boston Scientific (BSX) Outperforming Other Medical Stocks 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. Has Boston Scientific (BSX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Boston Scientific is a member of the Medical sector. This group includes 1051 individual stocks and currently holds a Zacks Sector Rank of #4. 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. Boston Scientific is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BSX's full-year earnings has moved 4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, BSX has moved about 26.6% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 1.1% on a year-to-date basis. As we can see, Boston Scientific is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Canopy Growth Corporation (CGC). The stock is up 74.4% year-to-date.
Over the past three months, Canopy Growth Corporation's consensus EPS estimate for the current year has increased 3.1%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Boston Scientific belongs to the Medical - Products industry, a group that includes 91 individual companies and currently sits at #142 in the Zacks Industry Rank. On average, stocks in this group have gained 2.9% this year, meaning that BSX is performing better in terms of year-to-date returns. Canopy Growth Corporation is also part of the same industry.
Investors with an interest in Medical stocks should continue to track Boston Scientific and Canopy Growth Corporation. These stocks will be looking to continue their solid performance.
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Boston Scientific Corporation (BSX) : Free Stock Analysis Report
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