For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Bioventus (BVS) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Bioventus is a member of the Medical sector. This group includes 914 individual stocks and currently holds a Zacks Sector Rank of #7. 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. Bioventus is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BVS' full-year earnings has moved 3.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that BVS has returned about 58.6% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 0.3% on average. This means that Bioventus is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, Aveanna Healthcare (AVAH), has outperformed the sector so far this year. The stock's year-to-date return is 15.7%.
For Aveanna Healthcare, the consensus EPS estimate for the current year has increased 19.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Bioventus is a member of the Medical - Drugs industry, which includes 137 individual companies and currently sits at #94 in the Zacks Industry Rank. This group has lost an average of 3.7% so far this year, so BVS is performing better in this area.
In contrast, Aveanna Healthcare falls under the Medical - Outpatient and Home Healthcare industry. Currently, this industry has 14 stocks and is ranked #95. Since the beginning of the year, the industry has moved +21.4%.
Investors interested in the Medical sector may want to keep a close eye on Bioventus and Aveanna Healthcare as they attempt to continue their solid performance.
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