Is Caribou Biosciences (CRBU) Outperforming Other Medical Stocks This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Caribou Biosciences, Inc. (CRBU) 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.
Caribou Biosciences, Inc. is one of 1120 individual stocks in the Medical sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Caribou Biosciences, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CRBU's full-year earnings has moved 4.7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CRBU has returned 22.5% so far this year. At the same time, Medical stocks have lost an average of 4.2%. As we can see, Caribou Biosciences, Inc. is performing better than its sector in the calendar year.
Another Medical stock, which has outperformed the sector so far this year, is Edwards Lifesciences (EW). The stock has returned 23.9% year-to-date.
For Edwards Lifesciences, the consensus EPS estimate for the current year has increased 1.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Caribou Biosciences, Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 538 individual stocks and currently sits at #104 in the Zacks Industry Rank. Stocks in this group have lost about 9.9% so far this year, so CRBU is performing better this group in terms of year-to-date returns.
In contrast, Edwards Lifesciences falls under the Medical - Instruments industry. Currently, this industry has 96 stocks and is ranked #89. Since the beginning of the year, the industry has moved +8.5%.
Going forward, investors interested in Medical stocks should continue to pay close attention to Caribou Biosciences, Inc. and Edwards Lifesciences as they could maintain their 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
Caribou Biosciences, Inc. (CRBU) : Free Stock Analysis Report
Edwards Lifesciences Corporation (EW) : Free Stock Analysis Report
