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Is Butterfly Network (BFLY) Stock Outpacing Its Medical Peers This Year?
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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Butterfly Network, Inc. (BFLY - Free Report) one of those stocks right now? 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.
Butterfly Network, Inc. is a member of our Medical group, which includes 1153 different companies and currently sits at #6 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Butterfly Network, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BFLY's full-year earnings has moved 17.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BFLY has moved about 0.4% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -1.9% on a year-to-date basis. This shows that Butterfly Network, Inc. is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Haemonetics (HAE - Free Report) . The stock is up 6.4% year-to-date.
The consensus estimate for Haemonetics' current year EPS has increased 8.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Butterfly Network, Inc. is a member of the Medical Info Systems industry, which includes 44 individual companies and currently sits at #147 in the Zacks Industry Rank. On average, this group has gained an average of 52.7% so far this year, meaning that BFLY is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Haemonetics belongs to the Medical - Products industry. This 101-stock industry is currently ranked #148. The industry has moved +1.7% year to date.
Butterfly Network, Inc. and Haemonetics could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Is Butterfly Network (BFLY) 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 Butterfly Network, Inc. (BFLY - Free Report) one of those stocks right now? 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.
Butterfly Network, Inc. is a member of our Medical group, which includes 1153 different companies and currently sits at #6 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Butterfly Network, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BFLY's full-year earnings has moved 17.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BFLY has moved about 0.4% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -1.9% on a year-to-date basis. This shows that Butterfly Network, Inc. is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Haemonetics (HAE - Free Report) . The stock is up 6.4% year-to-date.
The consensus estimate for Haemonetics' current year EPS has increased 8.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Butterfly Network, Inc. is a member of the Medical Info Systems industry, which includes 44 individual companies and currently sits at #147 in the Zacks Industry Rank. On average, this group has gained an average of 52.7% so far this year, meaning that BFLY is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Haemonetics belongs to the Medical - Products industry. This 101-stock industry is currently ranked #148. The industry has moved +1.7% year to date.
Butterfly Network, Inc. and Haemonetics could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.