Is Biodesix (BDSX) Stock Outpacing Its Medical Peers This Year?

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Biodesix, Inc. (BDSX) 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? Let's take a closer look at the stock's year-to-date performance to find out.

Biodesix, Inc. is one of 924 companies in the Medical group. The Medical group currently sits at #10 within 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 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. Biodesix, Inc. is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for BDSX's full-year earnings has moved 3.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Our latest available data shows that BDSX has returned about 136.6% since the start of the calendar year. At the same time, Medical stocks have lost an average of 5.4%. This means that Biodesix, Inc. 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 Coherus Oncology (CHRS). The stock is up 11.3% year-to-date.

Over the past three months, Coherus Oncology's consensus EPS estimate for the current year has increased 9.6%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Biodesix, Inc. belongs to the Medical Services industry, which includes 66 individual stocks and currently sits at #142 in the Zacks Industry Rank. Stocks in this group have lost about 10.2% so far this year, so BDSX is performing better this group in terms of year-to-date returns.

In contrast, Coherus Oncology falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 444 stocks and is ranked #142. Since the beginning of the year, the industry has moved +1.5%.

Investors with an interest in Medical stocks should continue to track Biodesix, Inc. and Coherus Oncology. These stocks will be looking to continue their solid performance.

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

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