Yahoo Finance Is Bionano Genomics (BNGO) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Bionano Genomics, Inc. (BNGO) been one of those stocks this year? 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.
Bionano Genomics, Inc. is one of 1174 individual stocks in the Medical sector. Collectively, these companies sit at #5 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 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. Bionano Genomics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for BNGO's full-year earnings has moved 2.6% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, BNGO has moved about 6.9% on a year-to-date basis. At the same time, Medical stocks have lost an average of 1.6%. This shows that Bionano Genomics, Inc. is outperforming its peers so far this year.
Another stock in the Medical sector, Amarin (AMRN), has outperformed the sector so far this year. The stock's year-to-date return is 58.7%.
The consensus estimate for Amarin's current year EPS has increased 12.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Bionano Genomics, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 557 individual stocks and currently sits at #94 in the Zacks Industry Rank. This group has lost an average of 1.1% so far this year, so BNGO is performing better in this area. Amarin is also part of the same industry.
Investors interested in the Medical sector may want to keep a close eye on Bionano Genomics, Inc. and Amarin as they attempt to continue their solid performance.
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