The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Fate Therapeutics (FATE - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of FATE and the rest of the Medical group's stocks.
Fate Therapeutics is a member of the Medical sector. This group includes 895 individual stocks and currently holds a Zacks Sector Rank of #1. 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. FATE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for FATE's full-year earnings has moved 9.24% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that FATE has returned about 23.56% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -13.13% on a year-to-date basis. This means that Fate Therapeutics is performing better than its sector in terms of year-to-date returns.
Breaking things down more, FATE is a member of the Medical - Biomedical and Genetics industry, which includes 384 individual companies and currently sits at #25 in the Zacks Industry Rank. On average, this group has lost an average of 9.48% so far this year, meaning that FATE is performing better in terms of year-to-date returns.
FATE will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.