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5 Top-Ranked Stocks Beating the Market at Midway Q1

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Midway through the first quarter of 2020, Wall Street has been on a strong run, hitting new record highs on several occasions. Better-than-expected earnings, positive development in the U.S.-China trade relationship, China stimulus measures, easing policies and slew of upbeat economic data buoyed the stocks.

In fact, the bulls bravely escaped the Middle East tensions in January and the latest coronavirus outbreak, which could lead to global slowdown. The solid trend is likely to continue, at least in the near term, given the resurgence of investors’ confidence in the economy.

The U.S. economy has been resilient and could continue to grow moderately this year. The labor market was off to a strong start in 2020, creating 225,000 new jobs in January. The manufacturing sector, which had languished in contraction territory for five months, rebounded strongly in January and services sector activity also picked up, with industries reporting increases in new orders. Moreover, retail sales strengthened for a fourth consecutive month and homebuilder sentiment is hovering near the highest level since 1999.

Meanwhile, U.S. consumer sentiment, as recorded by the University of Michigan’s consumer sentiment index, came in higher than expected for February despite the recent coronavirus outbreak.

While there are winners from various corners of the space, some stocks have been crushing the brood market and have a solid Zacks Rank #1 (Strong Buy) or 2 (Buy). Below we have presented a bunch of those that have been gaining steam so far this quarter and will continue to outperform given their superior fundamentals. You can see the complete list of today’s Zacks #1 Rank stocks here.

Applied Therapeutics Inc. (APLT - Free Report) – Up 64.6%

The clinical-stage biopharmaceutical company is engaged in developing drug candidates for unmet medical need. The Zacks Consensus Estimate for this year has narrowed from a loss of $2.35 to a loss of $2.24 over the past 60 days. The stock has an estimated earnings growth rate of 27% and has a market cap of $973.6 million. It carries a Zacks Rank #2 and a VGM Score of B.

Community Health Systems Inc. (CYH - Free Report) – Up 62.4%

It is one of the largest publicly traded hospital companies in the United States and a leading operator of general acute care hospitals and outpatient facilities in communities across the country. The Zacks Consensus Estimate for this year has narrowed from a loss of $1.59 to a loss of $1.50 over the past 30 days. The stock has an estimated earnings growth rate of 15.2%. CYH has a market cap of $555 million and carries a Zacks Rank #2. Its VGM Score stands at B.

Enphase Energy Inc. (ENPH - Free Report) – Up 53.7%

This is a global energy technology company that delivers energy management technology for the solar industry. The stock saw positive earnings estimate revision of a penny for this year over the past 60 days and has an expected growth rate of 6.3%. It has a Zacks Rank #1 and VGM Score of B. Enphase Energy has a market cap of $4.9 billion.

Fulgent Genetics Inc. (FLGT - Free Report) – Up 53.1%

This technology company provides genetic testing services to physicians with clinically actionable diagnostic information. With a market cap of $369.5 million, the stock witnessed no earnings estimate revision for this year in the past month. It has an estimated earnings growth of 38.9%. The stock has a Zacks Rank #2 and VGM Score of B.

Tandem Diabetes Care Inc. (TNDM - Free Report) – Up 50.2%

With a market cap of $5.3 billion, Tandem Diabetes Care designs, develops and markets products for people with insulin-dependent diabetes. The stock saw positive earnings estimate revision of a penny for this year over the past month, and has an expected earnings growth rate of 107.1%. It sports a Zacks Rank #1 and VGM Score of B.

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