Investors focused on the Medical space have likely heard of Boston Scientific (BSX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of BSX and the rest of the Medical group's stocks.
Boston Scientific is one of 763 companies in the Medical group. The Medical group currently sits at #11 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 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. BSX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BSX's full-year earnings has moved 1.35% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, BSX has returned 30.01% so far this year. In comparison, Medical companies have returned an average of 2.33%. This means that Boston Scientific is outperforming the sector as a whole this year.
Breaking things down more, BSX is a member of the Medical - Products industry, which includes 70 individual companies and currently sits at #179 in the Zacks Industry Rank. Stocks in this group have gained about 10.69% so far this year, so BSX is performing better this group in terms of year-to-date returns.
BSX will likely be looking to continue its solid performance, so investors interested Medical stocks should continue to pay close attention to the company.