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Is Boston Scientific (BSX) Stock Outpacing Its Medical Peers This Year?
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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Boston Scientific (BSX - Free Report) one of those stocks right now? 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.
Boston Scientific is a member of our Medical group, which includes 1149 different companies and currently sits at #3 in the Zacks Sector Rank. 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. Boston Scientific is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BSX'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.
According to our latest data, BSX has moved about 12.5% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -1.4% on a year-to-date basis. This shows that Boston Scientific is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Cardinal Health (CAH - Free Report) . The stock has returned 6.8% year-to-date.
For Cardinal Health, the consensus EPS estimate for the current year has increased 2.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Boston Scientific belongs to the Medical - Products industry, a group that includes 101 individual stocks and currently sits at #159 in the Zacks Industry Rank. This group has gained an average of 7.2% so far this year, so BSX is performing better in this area.
Cardinal Health, however, belongs to the Medical - Dental Supplies industry. Currently, this 18-stock industry is ranked #56. The industry has moved +9.1% so far this year.
Going forward, investors interested in Medical stocks should continue to pay close attention to Boston Scientific and Cardinal Health as they could maintain their solid performance.
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Is Boston Scientific (BSX) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Boston Scientific (BSX - Free Report) one of those stocks right now? 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.
Boston Scientific is a member of our Medical group, which includes 1149 different companies and currently sits at #3 in the Zacks Sector Rank. 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. Boston Scientific is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BSX'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.
According to our latest data, BSX has moved about 12.5% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -1.4% on a year-to-date basis. This shows that Boston Scientific is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Cardinal Health (CAH - Free Report) . The stock has returned 6.8% year-to-date.
For Cardinal Health, the consensus EPS estimate for the current year has increased 2.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Boston Scientific belongs to the Medical - Products industry, a group that includes 101 individual stocks and currently sits at #159 in the Zacks Industry Rank. This group has gained an average of 7.2% so far this year, so BSX is performing better in this area.
Cardinal Health, however, belongs to the Medical - Dental Supplies industry. Currently, this 18-stock industry is ranked #56. The industry has moved +9.1% so far this year.
Going forward, investors interested in Medical stocks should continue to pay close attention to Boston Scientific and Cardinal Health as they could maintain their solid performance.