Is Fulgent Genetics (FLGT) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Fulgent Genetics, Inc. (FLGT) 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.
Fulgent Genetics, Inc. is one of 1169 companies in the Medical group. The Medical group currently sits at #4 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Fulgent Genetics, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for FLGT's full-year earnings has moved 14% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, FLGT has moved about 5.5% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 5.4% on average. This shows that Fulgent Genetics, Inc. is outperforming its peers so far this year.
Another Medical stock, which has outperformed the sector so far this year, is Adaptive Biotechnologies (ADPT). The stock has returned 16.4% year-to-date.
The consensus estimate for Adaptive Biotechnologies' current year EPS has increased 2.8% over the past three months. 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 49 individual companies and currently sits at #66 in the Zacks Industry Rank. Stocks in this group have gained about 48.6% so far this year, so FLGT is slightly underperforming its industry this group in terms of year-to-date returns.
In contrast, Adaptive Biotechnologies falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 555 stocks and is ranked #94. Since the beginning of the year, the industry has moved -5.6%.
Investors with an interest in Medical stocks should continue to track Fulgent Genetics, Inc. and Adaptive Biotechnologies. These stocks will be looking to continue their solid performance.
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