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Is Summit Therapeutics (SMMT) Stock Outpacing Its Medical Peers This Year?

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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Summit Therapeutics (SMMT - Free Report) one of those stocks right now? 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.

Summit Therapeutics is one of 898 individual stocks in the Medical sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. SMMT is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for SMMT's full-year earnings has moved 3.76% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, SMMT has returned 28.75% so far this year. Meanwhile, the Medical sector has returned an average of -25.73% on a year-to-date basis. This means that Summit Therapeutics is outperforming the sector as a whole this year.

Looking more specifically, SMMT belongs to the Medical - Drugs industry, a group that includes 172 individual stocks and currently sits at #41 in the Zacks Industry Rank. On average, this group has lost an average of 31.28% so far this year, meaning that SMMT is performing better in terms of year-to-date returns.

Going forward, investors interested in Medical stocks should continue to pay close attention to SMMT as it looks to continue its solid performance.

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