The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Adaptive Biotechnologies (ADPT) 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.
Adaptive Biotechnologies is one of 1001 companies in the Medical group. The Medical group currently sits at #3 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Adaptive Biotechnologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ADPT's full-year earnings has moved 5.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, ADPT has gained about 47% so far this year. Meanwhile, stocks in the Medical group have lost about 4.8% on average. As we can see, Adaptive Biotechnologies is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Centene (CNC). The stock is up 3.9% year-to-date.
In Centene's case, the consensus EPS estimate for the current year increased 4.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Adaptive Biotechnologies belongs to the Medical - Biomedical and Genetics industry, a group that includes 508 individual companies and currently sits at #81 in the Zacks Industry Rank. On average, stocks in this group have lost 8% this year, meaning that ADPT is performing better in terms of year-to-date returns.
In contrast, Centene falls under the Medical - HMOs industry. Currently, this industry has 8 stocks and is ranked #67. Since the beginning of the year, the industry has moved -14%.
Investors with an interest in Medical stocks should continue to track Adaptive Biotechnologies and Centene. These stocks will be looking to continue their solid performance.
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Adaptive Biotechnologies Corporation (ADPT): Free Stock Analysis Report Centene Corporation (CNC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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