For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Exact Sciences (EXAS) 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? 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.
Exact Sciences is one of 889 companies in the Medical group. The Medical group currently sits at #2 within 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. EXAS is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for EXAS's full-year earnings has moved 19.80% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, EXAS has moved about 46.85% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 1.78% on average. This shows that Exact Sciences is outperforming its peers so far this year.
Looking more specifically, EXAS belongs to the Medical - Biomedical and Genetics industry, which includes 377 individual stocks and currently sits at #81 in the Zacks Industry Rank. On average, this group has lost an average of 7.92% so far this year, meaning that EXAS is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to EXAS as it looks to continue its solid performance.
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