For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Si-Bone (SIBN) one of those stocks right now? 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.
Si-Bone is a member of our Medical group, which includes 1111 different companies and currently sits at #5 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Si-Bone is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SIBN's full-year earnings has moved 13.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, SIBN has gained about 55.7% so far this year. Meanwhile, the Medical sector has returned an average of -2.4% on a year-to-date basis. This shows that Si-Bone is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Alpine Immune Sciences, Inc. (ALPN). The stock has returned 65.2% year-to-date.
The consensus estimate for Alpine Immune Sciences, Inc.'s current year EPS has increased 9.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Si-Bone belongs to the Medical - Instruments industry, a group that includes 95 individual stocks and currently sits at #144 in the Zacks Industry Rank. On average, stocks in this group have gained 2.7% this year, meaning that SIBN is performing better in terms of year-to-date returns.
On the other hand, Alpine Immune Sciences, Inc. belongs to the Medical - Drugs industry. This 199-stock industry is currently ranked #100. The industry has moved -4% year to date.
Investors with an interest in Medical stocks should continue to track Si-Bone and Alpine Immune Sciences, Inc. These stocks will be looking to continue their solid performance.
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