Is Connect Biopharma Holdings (CNTB) 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 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 a member of our Medical group, which includes 1087 different companies and currently sits at #2 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 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 39.4% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, CNTB has returned 29.1% so far this year. Meanwhile, the Medical sector has returned an average of -7.6% on a year-to-date basis. As we can see, Connect Biopharma Holdings Limited Sponsored ADR is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is DexCom (DXCM). The stock is up 0.7% year-to-date.
The consensus estimate for DexCom's current year EPS has increased 16.4% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Connect Biopharma Holdings Limited Sponsored ADR belongs to the Medical - Biomedical and Genetics industry, which includes 528 individual stocks and currently sits at #47 in the Zacks Industry Rank. On average, stocks in this group have lost 22.4% this year, meaning that CNTB is performing better in terms of year-to-date returns.
DexCom, however, belongs to the Medical - Instruments industry. Currently, this 94-stock industry is ranked #72. The industry has moved -4.9% so far this year.
Investors interested in the Medical sector may want to keep a close eye on Connect Biopharma Holdings Limited Sponsored ADR and DexCom as they attempt to continue their solid performance.
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Connect Biopharma Holdings Limited Sponsored ADR (CNTB) : Free Stock Analysis Report
DexCom, Inc. (DXCM) : Free Stock Analysis Report
