The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Assertio (ASRT) 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? 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.
Assertio is a member of our Medical group, which includes 932 different companies and currently sits at #8 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Assertio is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ASRT's full-year earnings has moved 6.6% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ASRT has gained about 14% so far this year. Meanwhile, stocks in the Medical group have gained about 7% on average. This means that Assertio is outperforming the sector as a whole this year.
Another Medical stock, which has outperformed the sector so far this year, is Butterfly Network, Inc. (BFLY). The stock has returned 15.8% year-to-date.
Over the past three months, Butterfly Network, Inc.'s consensus EPS estimate for the current year has increased 30.4%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Assertio belongs to the Medical - Drugs industry, which includes 141 individual stocks and currently sits at #96 in the Zacks Industry Rank. On average, this group has gained an average of 1.9% so far this year, meaning that ASRT 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 42-stock industry is currently ranked #168. The industry has moved +2% year to date.
Investors interested in the Medical sector may want to keep a close eye on Assertio and Butterfly Network, Inc. as they attempt to continue their solid performance.
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Assertio Holdings, Inc. (ASRT): Free Stock Analysis Report Butterfly Network, Inc. (BFLY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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