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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. Has Boston Scientific (BSX - Free Report) been one of those stocks this year? 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.
Boston Scientific is a member of our Medical group, which includes 1025 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Boston Scientific is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BSX's full-year earnings has moved 3.4% higher within the past quarter. 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 48.5% on a year-to-date basis. In comparison, Medical companies have returned an average of 6.6%. This means that Boston Scientific is outperforming the sector as a whole this year.
One other Medical stock that has outperformed the sector so far this year is Arcellx, Inc. (ACLX - Free Report) . The stock is up 45.7% year-to-date.
In Arcellx, Inc.'s case, the consensus EPS estimate for the current year 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 88 individual stocks and currently sits at #67 in the Zacks Industry Rank. This group has gained an average of 12.4% so far this year, so BSX is performing better in this area.
On the other hand, Arcellx, Inc. belongs to the Medical - Biomedical and Genetics industry. This 504-stock industry is currently ranked #78. The industry has moved -2.1% year to date.
Investors interested in the Medical sector may want to keep a close eye on Boston Scientific and Arcellx, Inc. as they attempt to continue 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. Has Boston Scientific (BSX - Free Report) been one of those stocks this year? 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.
Boston Scientific is a member of our Medical group, which includes 1025 different companies and currently sits at #3 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Boston Scientific is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BSX's full-year earnings has moved 3.4% higher within the past quarter. 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 48.5% on a year-to-date basis. In comparison, Medical companies have returned an average of 6.6%. This means that Boston Scientific is outperforming the sector as a whole this year.
One other Medical stock that has outperformed the sector so far this year is Arcellx, Inc. (ACLX - Free Report) . The stock is up 45.7% year-to-date.
In Arcellx, Inc.'s case, the consensus EPS estimate for the current year 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 88 individual stocks and currently sits at #67 in the Zacks Industry Rank. This group has gained an average of 12.4% so far this year, so BSX is performing better in this area.
On the other hand, Arcellx, Inc. belongs to the Medical - Biomedical and Genetics industry. This 504-stock industry is currently ranked #78. The industry has moved -2.1% year to date.
Investors interested in the Medical sector may want to keep a close eye on Boston Scientific and Arcellx, Inc. as they attempt to continue their solid performance.