Is BioTelemetry (BEAT) Outperforming Other Medical Stocks This Year?
Investors focused on the Medical space have likely heard of BioTelemetry (BEAT), 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.
BioTelemetry is a member of the Medical sector. This group includes 758 individual stocks and currently holds a Zacks Sector Rank of #4. 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).
Over the past 90 days, the Zacks Consensus Estimate for BEAT’s full-year earnings has moved 16.16% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
According to our latest data, BEAT has moved about 85.28% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 5.14% on average. This means that BioTelemetry is outperforming the sector as a whole this year.
To break things down more, BEAT belongs to the Medical Services industry, a group that includes 31 individual companies and currently sits at #88 in the Zacks Industry Rank. On average, this group has gained an average of 23.21% so far 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.
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