Are Medical Stocks Lagging Bausch Health (BHC) This Year?

Zacks
2024-11-06

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Bausch Health (BHC) 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.

Bausch Health is a member of the Medical sector. This group includes 1024 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. Bausch Health is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for BHC's full-year earnings has moved 3.4% higher within the past quarter. 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 20.8% so far this year. At the same time, Medical stocks have gained an average of 3.5%. This means that Bausch Health is performing better than its sector in terms of year-to-date returns.

Another stock in the Medical sector, Butterfly Network, Inc. (BFLY), has outperformed the sector so far this year. The stock's year-to-date return is 126.9%.

Over the past three months, Butterfly Network, Inc.'s consensus EPS estimate for the current year has increased 4.1%. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Bausch Health belongs to the Medical - Generic Drugs industry, a group that includes 11 individual companies and currently sits at #50 in the Zacks Industry Rank. On average, stocks in this group have lost 5.3% this year, meaning that BHC is performing better in terms of year-to-date returns.

On the other hand, Butterfly Network, Inc. belongs to the Medical Info Systems industry. This 43-stock industry is currently ranked #84. The industry has moved -14.9% year to date.

Investors with an interest in Medical stocks should continue to track Bausch Health and Butterfly Network, Inc. These stocks will be looking to continue their solid performance.

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