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Is Biohaven Ltd. (BHVN) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Biohaven Ltd. (BHVN - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Biohaven Ltd. is one of 1164 companies in the Medical group. The Medical group currently sits at #5 within the Zacks Sector Rank. 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 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. Biohaven Ltd. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BHVN's full-year earnings has moved 6.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BHVN has moved about 1.1% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 3.6% on average. This shows that Biohaven Ltd. is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Hologic (HOLX - Free Report) . The stock has returned 5.9% year-to-date.
Over the past three months, Hologic's consensus EPS estimate for the current year has increased 8.2%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Biohaven Ltd. is a member of the Medical - Biomedical and Genetics industry, which includes 553 individual companies and currently sits at #83 in the Zacks Industry Rank. On average, stocks in this group have lost 4.5% this year, meaning that BHVN is performing better in terms of year-to-date returns.
In contrast, Hologic falls under the Medical - Instruments industry. Currently, this industry has 98 stocks and is ranked #83. Since the beginning of the year, the industry has moved +1%.
Investors with an interest in Medical stocks should continue to track Biohaven Ltd. and Hologic. These stocks will be looking to continue their solid performance.