You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Are Medical Stocks Lagging Bionano Genomics (BNGO) This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Bionano Genomics, Inc. (BNGO - Free Report) 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? 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.
Bionano Genomics, Inc. is one of 1178 individual stocks in the Medical sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Bionano Genomics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BNGO's full-year earnings has moved 15.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, BNGO has gained about 25.3% so far this year. Meanwhile, stocks in the Medical group have lost about 17.1% on average. This means that Bionano Genomics, Inc. is outperforming the sector as a whole this year.
Another stock in the Medical sector, Aziyo Biologics, Inc. (AZYO - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 15.3%.
Over the past three months, Aziyo Biologics, Inc.'s consensus EPS estimate for the current year has increased 14.3%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Bionano Genomics, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 558 individual companies and currently sits at #88 in the Zacks Industry Rank. This group has lost an average of 18% so far this year, so BNGO is performing better in this area.
In contrast, Aziyo Biologics, Inc. falls under the Medical - Drugs industry. Currently, this industry has 219 stocks and is ranked #96. Since the beginning of the year, the industry has moved -24.1%.
Investors interested in the Medical sector may want to keep a close eye on Bionano Genomics, Inc. and Aziyo Biologics, Inc. as they attempt to continue their solid performance.