For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Arcutis Biotherapeutics, Inc. (ARQT) one of those stocks right now? 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.
Arcutis Biotherapeutics, Inc. is a member of our Medical group, which includes 979 different companies and currently sits at #8 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Arcutis Biotherapeutics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ARQT's full-year earnings has moved 25.7% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ARQT has gained about 6% so far this year. In comparison, Medical companies have returned an average of -7.4%. This shows that Arcutis Biotherapeutics, Inc. is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Tenet Healthcare (THC). The stock has returned 31.2% year-to-date.
For Tenet Healthcare, the consensus EPS estimate for the current year has increased 24.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Arcutis Biotherapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 489 individual stocks and currently sits at #147 in the Zacks Industry Rank. Stocks in this group have lost about 0.4% so far this year, so ARQT is performing better this group in terms of year-to-date returns.
In contrast, Tenet Healthcare falls under the Medical - Hospital industry. Currently, this industry has 5 stocks and is ranked #62. Since the beginning of the year, the industry has moved +18.9%.
Investors interested in the Medical sector may want to keep a close eye on Arcutis Biotherapeutics, Inc. and Tenet Healthcare as they attempt to continue their solid performance.
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Arcutis Biotherapeutics, Inc. (ARQT): Free Stock Analysis Report Tenet Healthcare Corporation (THC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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