Are Medical Stocks Lagging Biodesix (BDSX) This Year?

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Biodesix, Inc. (BDSX) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.

Biodesix, Inc. is one of 928 companies in the Medical group. The Medical group currently sits at #9 within 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. Biodesix, Inc. is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for BDSX's full-year earnings has moved 3.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, BDSX has gained about 131.6% so far this year. In comparison, Medical companies have returned an average of 1.9%. This means that Biodesix, Inc. is performing better than its sector in terms of year-to-date returns.

Another Medical stock, which has outperformed the sector so far this year, is Cabaletta Bio, Inc. (CABA). The stock has returned 50.7% year-to-date.

The consensus estimate for Cabaletta Bio, Inc.'s current year EPS has increased 1.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

To break things down more, Biodesix, Inc. belongs to the Medical Services industry, a group that includes 66 individual companies and currently sits at #90 in the Zacks Industry Rank. On average, stocks in this group have lost 2.5% this year, meaning that BDSX is performing better in terms of year-to-date returns.

In contrast, Cabaletta Bio, Inc. falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 447 stocks and is ranked #137. Since the beginning of the year, the industry has moved +8.7%.

Going forward, investors interested in Medical stocks should continue to pay close attention to Biodesix, Inc. and Cabaletta Bio, Inc. as they could maintain their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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