Investors focused on the Medical space have likely heard of Bausch Health Cos (BHC), but is the stock performing well in comparison to the rest of its sector peers? 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.
Bausch Health Cos is a member of our Medical group, which includes 842 different companies and currently sits at #1 in the Zacks Sector Rank. 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 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 #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for BHC's full-year earnings has moved 6.93% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BHC has gained about 9.53% so far this year. Meanwhile, the Medical sector has returned an average of -0.91% on a year-to-date basis. As we can see, Bausch Health Cos is performing better than its sector in the calendar year.
Looking more specifically, BHC belongs to the Medical - Generic Drugs industry, a group that includes 23 individual stocks and currently sits at #72 in the Zacks Industry Rank. On average, this group has gained an average of 2.38% so far this year, meaning that BHC is performing better in terms of year-to-date returns.
BHC will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.