Is Fulgent Genetics (FLGT) 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. Fulgent Genetics, Inc. (FLGT) 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? 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.
Fulgent Genetics, Inc. is one of 1144 companies in the Medical group. The Medical group currently sits at #7 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 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. Fulgent Genetics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for FLGT's full-year earnings has moved 27.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, FLGT has gained about 13.9% so far this year. At the same time, Medical stocks have lost an average of 0.1%. This shows that Fulgent Genetics, Inc. is outperforming its peers so far this year.
Another stock in the Medical sector, Masimo (MASI), has outperformed the sector so far this year. The stock's year-to-date return is 27%.
Over the past three months, Masimo's consensus EPS estimate for the current year has increased 8.9%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Fulgent Genetics, Inc. is a member of the Medical Info Systems industry, which includes 44 individual companies and currently sits at #113 in the Zacks Industry Rank. This group has gained an average of 54.3% so far this year, so FLGT is slightly underperforming its industry in this area.
On the other hand, Masimo belongs to the Medical - Instruments industry. This 94-stock industry is currently ranked #119. The industry has moved +4.7% year to date.
Fulgent Genetics, Inc. and Masimo could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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