Bristol Stock- Is Bristol Myers Squibb (BMY) Outperforming Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Bristol Myers Squibb (BMY) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
Bristol Myers Squibb is one of 1024 individual stocks in the Medical sector. Collectively, these companies sit at #16 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. 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 1.71% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, BMY has moved about 1.45% on a year-to-date basis. In comparison, Medical companies have returned an average of -2.23%. This means that Bristol Myers Squibb is outperforming the sector as a whole this year.
Looking more specifically, BMY belongs to the Medical – Biomedical and Genetics industry, a group that includes 469 individual stocks and currently sits at #193 in the Zacks Industry Rank. On average, stocks in this group have lost 4.55% this year, meaning that BMY is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to BMY as it looks to continue its solid performance.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.