Investors focused on the Medical space have likely heard of Bausch Health Cos (BHC - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Bausch Health Cos is one of 839 companies in the Medical group. The Medical group currently sits at #3 within the Zacks Sector Rank. 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 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. BHC is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BHC's full-year earnings has moved 5.84% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, BHC has gained about 30.92% so far this year. In comparison, Medical companies have returned an average of 2.64%. This means that Bausch Health Cos is performing better than its sector in terms of year-to-date returns.
To break things down more, BHC belongs to the Medical - Generic Drugs industry, a group that includes 23 individual companies and currently sits at #151 in the Zacks Industry Rank. Stocks in this group have gained about 16.95% so far this year, so BHC is performing better this group in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on BHC as it attempts to continue its solid performance.