Is Adaptive Biotechnologies (ADPT) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Adaptive Biotechnologies (ADPT) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out.
Adaptive Biotechnologies is a member of our Medical group, which includes 1150 different companies and currently sits at #4 in the Zacks Sector Rank. 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 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 three months, the Zacks Consensus Estimate for ADPT's full-year earnings has moved 4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ADPT has moved about 12.4% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 0.3% on a year-to-date basis. This means that Adaptive Biotechnologies is outperforming the sector as a whole this year.
Another stock in the Medical sector, Avanos Medical (AVNS), has outperformed the sector so far this year. The stock's year-to-date return is 14.5%.
In Avanos Medical's case, the consensus EPS estimate for the current year increased 2.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Adaptive Biotechnologies belongs to the Medical - Biomedical and Genetics industry, a group that includes 554 individual stocks and currently sits at #88 in the Zacks Industry Rank. This group has lost an average of 3.3% so far this year, so ADPT is performing better in this area.
On the other hand, Avanos Medical belongs to the Medical - Instruments industry. This 94-stock industry is currently ranked #109. The industry has moved +6.1% year to date.
Investors with an interest in Medical stocks should continue to track Adaptive Biotechnologies and Avanos Medical. These stocks will be looking to continue their solid performance.
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Adaptive Biotechnologies Corporation (ADPT) : Free Stock Analysis Report
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