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Is Butterfly Network (BFLY) Outperforming Other Medical Stocks This Year?
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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Butterfly Network, Inc. (BFLY - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Butterfly Network, Inc. is one of 1174 companies in the Medical group. The Medical group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Butterfly Network, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BFLY's full-year earnings has moved 0.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, BFLY has returned 2% so far this year. At the same time, Medical stocks have lost an average of 1.4%. This shows that Butterfly Network, Inc. is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Biora Therapeutics, Inc. . The stock is up 5.1% year-to-date.
In Biora Therapeutics, Inc.'s case, the consensus EPS estimate for the current year increased 10% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Butterfly Network, Inc. belongs to the Medical Info Systems industry, a group that includes 50 individual stocks and currently sits at #151 in the Zacks Industry Rank. Stocks in this group have gained about 45.9% so far this year, so BFLY is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Biora Therapeutics, Inc. falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 557 stocks and is ranked #97. Since the beginning of the year, the industry has moved -0.6%.
Butterfly Network, Inc. and Biora 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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Is Butterfly Network (BFLY) Outperforming Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Butterfly Network, Inc. (BFLY - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Butterfly Network, Inc. is one of 1174 companies in the Medical group. The Medical group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Butterfly Network, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BFLY's full-year earnings has moved 0.8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, BFLY has returned 2% so far this year. At the same time, Medical stocks have lost an average of 1.4%. This shows that Butterfly Network, Inc. is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Biora Therapeutics, Inc. . The stock is up 5.1% year-to-date.
In Biora Therapeutics, Inc.'s case, the consensus EPS estimate for the current year increased 10% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Butterfly Network, Inc. belongs to the Medical Info Systems industry, a group that includes 50 individual stocks and currently sits at #151 in the Zacks Industry Rank. Stocks in this group have gained about 45.9% so far this year, so BFLY is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Biora Therapeutics, Inc. falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 557 stocks and is ranked #97. Since the beginning of the year, the industry has moved -0.6%.
Butterfly Network, Inc. and Biora Therapeutics, Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.