Are Medical Stocks Lagging Butterfly Network (BFLY) This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Butterfly Network, Inc. (BFLY) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Butterfly Network, Inc. is one of 1067 companies in the Medical group. The Medical group currently sits at #4 within 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 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. Butterfly Network, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BFLY's full-year earnings has moved 1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BFLY has moved about 13.9% on a year-to-date basis. At the same time, Medical stocks have gained an average of 7.5%. As we can see, Butterfly Network, Inc. is performing better than its sector in the calendar year.
Another stock in the Medical sector, BellRing Brands (BRBR), has outperformed the sector so far this year. The stock's year-to-date return is 7.6%.
In BellRing Brands' case, the consensus EPS estimate for the current year increased 3.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Butterfly Network, Inc. is a member of the Medical Info Systems industry, which includes 41 individual companies and currently sits at #71 in the Zacks Industry Rank. On average, this group has gained an average of 5.9% so far this year, meaning that BFLY is performing better in terms of year-to-date returns.
In contrast, BellRing Brands falls under the Medical - Products industry. Currently, this industry has 96 stocks and is ranked #152. Since the beginning of the year, the industry has moved +7.4%.
Investors with an interest in Medical stocks should continue to track Butterfly Network, Inc. and BellRing Brands. These stocks will be looking to continue their solid performance.
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BellRing Brands Inc. (BRBR) : Free Stock Analysis Report
