We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
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 individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Is Butterfly Network (BFLY) Outperforming Other Medical Stocks This Year?
Read MoreHide Full Article
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Butterfly Network, Inc. (BFLY - Free Report) been one of those stocks this year? 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.
Butterfly Network, Inc. is one of 884 companies in the Medical group. The Medical group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Butterfly Network, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BFLY's full-year earnings has moved 21.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BFLY has moved about 17.6% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -5.3% on a year-to-date basis. This means that Butterfly Network, Inc. is outperforming the sector as a whole this year.
American Well Corporation (AMWL - Free Report) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 62.1%.
For American Well Corporation, the consensus EPS estimate for the current year has increased 6.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Butterfly Network, Inc. belongs to the Medical Info Systems industry, a group that includes 41 individual companies and currently sits at #96 in the Zacks Industry Rank. This group has lost an average of 23.9% so far this year, so BFLY is performing better in this area. American Well Corporation is also part of the same industry.
Butterfly Network, Inc. and American Well Corporation could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report
predicting the 7 stocks that will soar highest in the coming month.
View the Zacks #1 Rank List
Image: Bigstock
Is Butterfly Network (BFLY) Outperforming Other Medical Stocks 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. Has Butterfly Network, Inc. (BFLY - Free Report) been one of those stocks this year? 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.
Butterfly Network, Inc. is one of 884 companies in the Medical group. The Medical group currently sits at #6 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Butterfly Network, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BFLY's full-year earnings has moved 21.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BFLY has moved about 17.6% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -5.3% on a year-to-date basis. This means that Butterfly Network, Inc. is outperforming the sector as a whole this year.
American Well Corporation (AMWL - Free Report) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 62.1%.
For American Well Corporation, the consensus EPS estimate for the current year has increased 6.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Butterfly Network, Inc. belongs to the Medical Info Systems industry, a group that includes 41 individual companies and currently sits at #96 in the Zacks Industry Rank. This group has lost an average of 23.9% so far this year, so BFLY is performing better in this area. American Well Corporation is also part of the same industry.
Butterfly Network, Inc. and American Well Corporation could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.