Are Medical Stocks Lagging Bausch Health (BHC) This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Bausch Health (BHC) 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? Let's take a closer look at the stock's year-to-date performance to find out.
Bausch Health is one of 1087 companies in the Medical group. The Medical group currently sits at #2 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Bausch Health is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BHC's full-year earnings has moved 3.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BHC has moved about 15.9% on a year-to-date basis. At the same time, Medical stocks have lost an average of 4.1%. As we can see, Bausch Health is performing better than its sector in the calendar year.
Another Medical stock, which has outperformed the sector so far this year, is Connect Biopharma Holdings Limited Sponsored ADR (CNTB). The stock has returned 8.8% year-to-date.
In Connect Biopharma Holdings Limited Sponsored ADR's case, the consensus EPS estimate for the current year increased 26.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bausch Health belongs to the Medical - Generic Drugs industry, a group that includes 15 individual stocks and currently sits at #45 in the Zacks Industry Rank. On average, stocks in this group have gained 33% this year, meaning that BHC is slightly underperforming its industry in terms of year-to-date returns.
Connect Biopharma Holdings Limited Sponsored ADR, however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 527-stock industry is ranked #58. The industry has moved -14.6% so far this year.
Bausch Health and Connect Biopharma Holdings Limited Sponsored ADR could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Bausch Health Cos Inc. (BHC) : Free Stock Analysis Report
Connect Biopharma Holdings Limited Sponsored ADR (CNTB) : Free Stock Analysis Report
