Has Connect Biopharma Holdings (CNTB) Outpaced Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Connect Biopharma Holdings Limited Sponsored ADR (CNTB) been one of those stocks this year? 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.
Connect Biopharma Holdings Limited Sponsored ADR is one of 1091 individual stocks in the Medical sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Connect Biopharma Holdings Limited Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CNTB's full-year earnings has moved 17.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CNTB has returned 36% so far this year. Meanwhile, the Medical sector has returned an average of -8.7% on a year-to-date basis. This shows that Connect Biopharma Holdings Limited Sponsored ADR is outperforming its peers so far this year.
Haemonetics (HAE) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 14.9%.
For Haemonetics, the consensus EPS estimate for the current year has increased 6.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Connect Biopharma Holdings Limited Sponsored ADR is a member of the Medical - Biomedical and Genetics industry, which includes 529 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, this group has lost an average of 20.3% so far this year, meaning that CNTB is performing better in terms of year-to-date returns.
On the other hand, Haemonetics belongs to the Medical - Products industry. This 94-stock industry is currently ranked #143. The industry has moved -11% year to date.
Investors with an interest in Medical stocks should continue to track Connect Biopharma Holdings Limited Sponsored ADR and Haemonetics. These stocks will be looking to continue their solid performance.
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Connect Biopharma Holdings Limited Sponsored ADR (CNTB) : Free Stock Analysis Report
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