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Are Medical Stocks Lagging Adagene (ADAG) This Year?

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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Adagene Inc. Sponsored ADR (ADAG - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Adagene Inc. Sponsored ADR is one of 1163 individual stocks in the Medical sector. Collectively, these companies sit at #5 in 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Adagene Inc. Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ADAG's full-year earnings has moved 3.7% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that ADAG has returned about 9.4% since the start of the calendar year. At the same time, Medical stocks have lost an average of 3.2%. This shows that Adagene Inc. Sponsored ADR is outperforming its peers so far this year.

One other Medical stock that has outperformed the sector so far this year is Alcon (ALC - Free Report) . The stock is up 3.3% year-to-date.

The consensus estimate for Alcon's current year EPS has increased 3.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Adagene Inc. Sponsored ADR is a member of the Medical - Biomedical and Genetics industry, which includes 552 individual companies and currently sits at #86 in the Zacks Industry Rank. On average, stocks in this group have lost 4.9% this year, meaning that ADAG is performing better in terms of year-to-date returns.

On the other hand, Alcon belongs to the Medical - Instruments industry. This 98-stock industry is currently ranked #89. The industry has moved +2.1% year to date.

Investors with an interest in Medical stocks should continue to track Adagene Inc. Sponsored ADR and Alcon. These stocks will be looking to continue their solid performance.

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