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Has AVEO Pharmaceuticals (AVEO) Outpaced Other Medical Stocks This Year?

·2 min read

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has AVEO Pharmaceuticals (AVEO) 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.

AVEO Pharmaceuticals is a member of the Medical sector. This group includes 1188 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. AVEO Pharmaceuticals is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for AVEO's full-year earnings has moved 11.3% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, AVEO has moved about 66.1% on a year-to-date basis. At the same time, Medical stocks have lost an average of 15.3%. This shows that AVEO Pharmaceuticals is outperforming its peers so far this year.

Another stock in the Medical sector, Butterfly Network, Inc. (BFLY), has outperformed the sector so far this year. The stock's year-to-date return is 28.7%.

The consensus estimate for Butterfly Network, Inc.'s current year EPS has increased 20.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, AVEO Pharmaceuticals is a member of the Medical - Biomedical and Genetics industry, which includes 558 individual companies and currently sits at #79 in the Zacks Industry Rank. This group has lost an average of 17.9% so far this year, so AVEO is performing better in this area.

On the other hand, Butterfly Network, Inc. belongs to the Medical Info Systems industry. This 49-stock industry is currently ranked #88. The industry has moved -28.4% year to date.

AVEO Pharmaceuticals and Butterfly Network, 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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