Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is BioTelemetry (BEAT - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
BioTelemetry is a member of the Medical sector. This group includes 818 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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 #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for BEAT's full-year earnings has moved 13.72% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, BEAT has moved about 75.28% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 4.93% 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 34 individual companies and currently sits at #103 in the Zacks Industry Rank. On average, stocks in this group have gained 27.19% this year, meaning that BEAT is performing better in terms of year-to-date returns.
BEAT will likely be looking to continue its solid performance, so investors interested Medical stocks should continue to pay close attention to the company.