The Medical group has plenty of great stocks, but investors should always be looking for companies 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? 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.
BioTelemetry is one of 756 individual stocks in the Medical sector. Collectively, these companies sit at #7 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. BEAT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BEAT's full-year earnings has moved 13.72% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, BEAT has returned 105.18% so far this year. Meanwhile, stocks in the Medical group have gained about 10.94% on average. This means that BioTelemetry is performing better than its sector in terms of year-to-date returns.
To break things down more, BEAT belongs to the Medical Services industry, a group that includes 31 individual companies and currently sits at #108 in the Zacks Industry Rank. On average, stocks in this group have gained 32.61% this year, meaning that BEAT is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to BEAT as it looks to continue its solid performance.