Investors focused on the Medical space have likely heard of T2 Biosystems (TTOO), but is the stock performing well in comparison to the rest of its sector peers? 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.
T2 Biosystems is one of 902 companies in the Medical group. The Medical group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. TTOO is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for TTOO's full-year earnings has moved 37.50% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, TTOO has moved about 10.26% on a year-to-date basis. In comparison, Medical companies have returned an average of 0.17%. As we can see, T2 Biosystems is performing better than its sector in the calendar year.
To break things down more, TTOO belongs to the Medical - Instruments industry, a group that includes 97 individual companies and currently sits at #168 in the Zacks Industry Rank. On average, this group has gained an average of 17.01% so far this year, meaning that TTOO is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track TTOO. The stock will be looking to continue its solid performance.
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