Has T2 Biosystems (TTOO) Outpaced Other Medical Stocks This Year?
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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has T2 Biosystems (TTOO) 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.
T2 Biosystems is one of 888 companies in the Medical group. The Medical group currently sits at #1 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. TTOO is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for TTOO's full-year earnings has moved 28.71% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, TTOO has gained about 0.85% so far this year. At the same time, Medical stocks have lost an average of 1.41%. 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 94 individual companies and currently sits at #83 in the Zacks Industry Rank. On average, this group has lost an average of 3.91% so far this year, meaning that TTOO is performing better 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.
