Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Tenet Healthcare (THC) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Tenet Healthcare is a member of the Medical sector. This group includes 915 individual stocks and currently holds a Zacks Sector Rank of #9. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Tenet Healthcare is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for THC's full-year earnings has moved 19.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that THC has returned about 30.7% since the start of the calendar year. At the same time, Medical stocks have gained an average of 2.8%. This means that Tenet Healthcare is outperforming the sector as a whole this year.
Adicet Bio, Inc. (ACET) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 7.1%.
Over the past three months, Adicet Bio, Inc.'s consensus EPS estimate for the current year has increased 21.5%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Tenet Healthcare belongs to the Medical - Hospital industry, a group that includes 4 individual companies and currently sits at #64 in the Zacks Industry Rank. On average, this group has gained an average of 11.5% so far this year, meaning that THC is performing better in terms of year-to-date returns.
On the other hand, Adicet Bio, Inc. belongs to the Medical - Biomedical and Genetics industry. This 437-stock industry is currently ranked #176. The industry has moved +7.3% year to date.
Investors with an interest in Medical stocks should continue to track Tenet Healthcare and Adicet Bio, Inc.. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).