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? 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.
Boston Scientific is one of 761 individual stocks in the Medical sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. BSX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BSX's full-year earnings has moved 1.30% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, BSX has moved about 36.31% on a year-to-date basis. In comparison, Medical companies have returned an average of 2.24%. This means that Boston Scientific is outperforming the sector as a whole this year.
To break things down more, BSX belongs to the Medical - Products industry, a group that includes 70 individual companies and currently sits at #102 in the Zacks Industry Rank. Stocks in this group have gained about 11.52% so far this year, so BSX is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to BSX as it looks to continue its solid performance.