The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Butterfly Network, Inc. (BFLY) been one of those stocks this year? 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.

Butterfly Network, Inc. is one of 1022 individual stocks in the Medical sector. Collectively, these companies sit at #3 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. Butterfly Network, Inc. is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for BFLY's full-year earnings has moved 6.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that BFLY has returned about 201.9% since the start of the calendar year. Meanwhile, stocks in the Medical group have gained about 1.1% on average. This shows that Butterfly Network, Inc. is outperforming its peers so far this year.

Another Medical stock, which has outperformed the sector so far this year, is argenex SE (ARGX). The stock has returned 63.8% year-to-date.

The consensus estimate for argenex SE's current year EPS has increased 696% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Butterfly Network, Inc. belongs to the Medical Info Systems industry, a group that includes 42 individual stocks and currently sits at #35 in the Zacks Industry Rank. This group has lost an average of 7.3% so far this year, so BFLY is performing better in this area.

In contrast, argenex SE falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 502 stocks and is ranked #67. Since the beginning of the year, the industry has moved -6%.

Going forward, investors interested in Medical stocks should continue to pay close attention to Butterfly Network, Inc. and argenex SE as they could maintain their solid performance.

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