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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Bellus Health (BLU) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Bellus Health is one of 1185 companies in the Medical group. The Medical group currently sits at #9 within the Zacks Sector Rank. 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 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. Bellus Health is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BLU's full-year earnings has moved 30.8% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, BLU has returned 9.3% so far this year. Meanwhile, stocks in the Medical group have lost about 12.2% on average. This means that Bellus Health is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Adherex Technologies Inc. (FENC). The stock is up 35.4% year-to-date.
The consensus estimate for Adherex Technologies Inc.'s current year EPS has increased 28.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Bellus Health is a member of the Medical - Biomedical and Genetics industry, which includes 551 individual companies and currently sits at #150 in the Zacks Industry Rank. This group has lost an average of 22.5% so far this year, so BLU is performing better in this area.
Adherex Technologies Inc. however, belongs to the Medical - Drugs industry. Currently, this 231-stock industry is ranked #155. The industry has moved -24.5% so far this year.
Investors with an interest in Medical stocks should continue to track Bellus Health and Adherex Technologies Inc. These stocks will be looking to continue their solid performance.
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