Yahoo Finance Has Bio-Rad Laboratories (BIO) Outpaced Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Bio-Rad Laboratories (BIO) 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? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Bio-Rad Laboratories is a member of the Medical sector. This group includes 1112 individual stocks and currently holds a Zacks Sector Rank of #12. 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 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. Bio-Rad Laboratories is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BIO's full-year earnings has moved 8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that BIO has returned about 28% since the start of the calendar year. In comparison, Medical companies have returned an average of -6.1%. This shows that Bio-Rad Laboratories is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Fullgent Genetics (FLGT). The stock is up 92.3% year-to-date.
The consensus estimate for Fullgent Genetics' current year EPS has increased 29.9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Bio-Rad Laboratories is a member of the Medical - Products industry, which includes 89 individual companies and currently sits at #183 in the Zacks Industry Rank. This group has lost an average of 3.2% so far this year, so BIO is performing better in this area.
On the other hand, Fullgent Genetics belongs to the Medical Info Systems industry. This 42-stock industry is currently ranked #168. The industry has moved -38.6% year to date.
Bio-Rad Laboratories and Fullgent Genetics could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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