The medical sector is brimming with potential, and investors are always on the lookout for companies that are outperforming their peers. Has Brainsway Ltd. Sponsored ADR (BWAY) been one of those stocks in 2024? A quick look at its year-to-date performance against the broader Medical sector can help us answer that question.
Brainsway Ltd. Sponsored ADR belongs to the Medical sector, a group encompassing 1025 individual stocks. Currently, the Medical sector holds a Zacks Sector Rank of #3. The Zacks Sector Rank assesses 16 different industry groups, evaluating the average Zacks Rank of each individual stock within the sector to gauge the overall strength of the group. The Zacks Rank places a significant emphasis on earnings estimates and estimate revisions to identify stocks with improving earnings outlooks. This system has a proven track record of success, and these stocks tend to outperform the market over the next one to three months.
Brainsway Ltd. Sponsored ADR currently boasts a Zacks Rank of #2 (Buy). The Zacks Consensus Estimate for BWAY’s full-year earnings has surged 177.8% higher in the past quarter. This remarkable increase indicates robust analyst sentiment and a positive earnings outlook trend. Our latest data reveals that BWAY has generated a return of approximately 44.9% since the start of the year. In comparison, Medical companies have averaged an 8.6% return. This clearly demonstrates that Brainsway Ltd. Sponsored ADR is outperforming its peers so far in 2024.
Another noteworthy stock in the Medical sector is Intuitive Surgical, Inc. (ISRG), which has also outperformed the sector this year. Its year-to-date return stands at 44.5%. For Intuitive Surgical, Inc., the consensus EPS estimate for the current year has increased by 8.8% over the past three months. The stock currently holds a Zacks Rank #1 (Strong Buy).
Drilling down further, Brainsway Ltd. Sponsored ADR belongs to the Medical – Products industry, which comprises 88 individual stocks and currently ranks #62 in the Zacks Industry Rank. On average, stocks in this group have gained 14.5% this year, signifying that BWAY is outperforming in terms of year-to-date returns. However, Intuitive Surgical, Inc. belongs to the Medical – Instruments industry. This 86-stock industry currently ranks #82 and has moved +8.2% so far this year.
Brainsway’s strong performance and positive earnings outlook, coupled with its outperformance within the Medical – Products industry, make it a compelling investment opportunity for investors seeking growth in the medical sector. However, as always, it’s crucial to conduct thorough research and consider your own investment goals before making any decisions.