Is Adaptive Biotechnologies (ADPT) Stock Outpacing Its Medical Peers This Year?

For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Adaptive Biotechnologies (ADPT) been one of those stocks this year? 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.

Adaptive Biotechnologies is a member of the Medical sector. This group includes 998 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. Adaptive Biotechnologies is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ADPT's full-year earnings has moved 5.5% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, ADPT has gained about 74.5% so far this year. At the same time, Medical stocks have lost an average of 2.3%. This shows that Adaptive Biotechnologies is outperforming its peers so far this year.

Another stock in the Medical sector, CVS Health (CVS), has outperformed the sector so far this year. The stock's year-to-date return is 43.2%.

In CVS Health's case, the consensus EPS estimate for the current year increased 4.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Adaptive Biotechnologies is a member of the Medical - Biomedical and Genetics industry, which includes 502 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, this group has lost an average of 0.2% so far this year, meaning that ADPT is performing better in terms of year-to-date returns.

CVS Health, however, belongs to the Medical Services industry. Currently, this 58-stock industry is ranked #69. The industry has moved -0.9% so far this year.

Investors with an interest in Medical stocks should continue to track Adaptive Biotechnologies and CVS Health. 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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