For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. BioLife Solutions (BLFS) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
BioLife Solutions is a member of our Medical group, which includes 761 different companies and currently sits at #6 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 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. BLFS is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BLFS's full-year earnings has moved 177.78% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that BLFS has returned about 252% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 2.81% on a year-to-date basis. As we can see, BioLife Solutions is performing better than its sector in the calendar year.
To break things down more, BLFS belongs to the Medical - Products industry, a group that includes 70 individual companies and currently sits at #94 in the Zacks Industry Rank. On average, this group has gained an average of 12.35% so far this year, meaning that BLFS is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on BLFS as it attempts to continue its solid performance.