For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Adaptive Biotechnologies (ADPT) 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.
Adaptive Biotechnologies is one of 987 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 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).
Over the past 90 days, the Zacks Consensus Estimate for ADPT's full-year earnings has moved 5.5% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ADPT has gained about 96.8% so far this year. In comparison, Medical companies have returned an average of -3.1%. This means that Adaptive Biotechnologies 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 Anavex Life Sciences (AVXL). The stock is up 0.5% year-to-date.
For Anavex Life Sciences, the consensus EPS estimate for the current year has increased 24.6% 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 495 individual companies and currently sits at #85 in the Zacks Industry Rank. On average, this group has lost an average of 1.1% so far this year, meaning that ADPT is performing better in terms of year-to-date returns. Anavex Life Sciences is also part of the same industry.
Adaptive Biotechnologies and Anavex Life Sciences could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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Adaptive Biotechnologies Corporation (ADPT): Free Stock Analysis Report Anavex Life Sciences Corp. (AVXL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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