For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. BioTelemetry (BEAT - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of BEAT and the rest of the Medical group's stocks.
BioTelemetry is a member of our Medical group, which includes 757 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. BEAT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for BEAT's full-year earnings has moved 13.06% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that BEAT has returned about 99.16% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 6.75% on a year-to-date basis. As we can see, BioTelemetry is performing better than its sector in the calendar year.
To break things down more, BEAT belongs to the Medical Services industry, a group that includes 31 individual companies and currently sits at #99 in the Zacks Industry Rank. On average, stocks in this group have gained 28.69% this year, meaning that BEAT is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track BEAT. The stock will be looking to continue its solid performance.