The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Brainsway Ltd. Sponsored ADR (BWAY) 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.
Brainsway Ltd. Sponsored ADR is one of 1110 companies in the Medical group. The Medical group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Brainsway Ltd. Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BWAY's full-year earnings has moved 17.4% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, BWAY has gained about 53% so far this year. In comparison, Medical companies have returned an average of -3.6%. This means that Brainsway Ltd. Sponsored ADR is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Align Technology (ALGN). The stock is up 52.8% year-to-date.
In Align Technology's case, the consensus EPS estimate for the current year increased 5.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Brainsway Ltd. Sponsored ADR belongs to the Medical - Products industry, a group that includes 97 individual stocks and currently sits at #83 in the Zacks Industry Rank. On average, this group has lost an average of 2.1% so far this year, meaning that BWAY is performing better in terms of year-to-date returns.
In contrast, Align Technology falls under the Medical - Dental Supplies industry. Currently, this industry has 17 stocks and is ranked #112. Since the beginning of the year, the industry has moved +13.5%.
Investors interested in the Medical sector may want to keep a close eye on Brainsway Ltd. Sponsored ADR and Align Technology as they attempt to continue their solid performance.
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