Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Arcutis Biotherapeutics, Inc. (ARQT) 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.
Arcutis Biotherapeutics, Inc. is one of 971 companies in the Medical group. The Medical group currently sits at #6 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 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).
Within the past quarter, the Zacks Consensus Estimate for ARQT's full-year earnings has moved 20.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, ARQT has returned 26.1% so far this year. Meanwhile, the Medical sector has returned an average of -3.1% on a year-to-date basis. This means that Arcutis Biotherapeutics, 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 Cardinal Health (CAH). The stock is up 30% year-to-date.
For Cardinal Health, the consensus EPS estimate for the current year has increased 2.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Arcutis Biotherapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 482 individual stocks and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have gained about 2.4% so far this year, so ARQT is performing better this group in terms of year-to-date returns.
On the other hand, Cardinal Health belongs to the Medical - Dental Supplies industry. This 14-stock industry is currently ranked #101. The industry has moved +0.3% year to date.
Investors interested in the Medical sector may want to keep a close eye on Arcutis Biotherapeutics, Inc. and Cardinal Health as they attempt to continue their solid performance.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Arcutis Biotherapeutics, Inc. (ARQT): Free Stock Analysis Report Cardinal Health, Inc. (CAH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
