Is BioRad Laboratories (BIO) Outperforming Other Medical Stocks This Year?
Investors focused on the Medical space have likely heard of BioRad Laboratories (BIO), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
BioRad Laboratories is a member of the Medical sector. This group includes 929 individual stocks and currently holds a Zacks Sector Rank of #13. 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. BIO is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BIO's full-year earnings has moved 21.65% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BIO has gained about 56.47% so far this year. Meanwhile, stocks in the Medical group have gained about 1.09% on average. This shows that BioRad Laboratories is outperforming its peers so far this year.
Looking more specifically, BIO belongs to the Medical - Products industry, which includes 79 individual stocks and currently sits at #115 in the Zacks Industry Rank. On average, stocks in this group have gained 2.26% this year, meaning that BIO is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track BIO. The stock will be looking to continue its solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
BioRad Laboratories, Inc. (BIO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
