Investors focused on the Medical space have likely heard of Bristol Myers Squibb (BMY), 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.
Bristol Myers Squibb is a member of the Medical sector. This group includes 1021 individual stocks and currently holds a Zacks Sector Rank of #16. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. BMY is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for BMY's full-year earnings has moved 1.31% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BMY has gained about 6.53% so far this year. At the same time, Medical stocks have gained an average of 1.49%. As we can see, Bristol Myers Squibb is performing better than its sector in the calendar year.
Breaking things down more, BMY is a member of the Medical - Biomedical and Genetics industry, which includes 468 individual companies and currently sits at #205 in the Zacks Industry Rank. Stocks in this group have lost about 1.86% so far this year, so BMY 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 BMY as it attempts to continue its solid performance.
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