Are Medical Stocks Lagging Applied Therapeutics (APLT) This Year?

Zacks
2024-10-10

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Applied Therapeutics Inc. (APLT) 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? 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.

Applied Therapeutics Inc. is a member of the Medical sector. This group includes 1025 individual stocks and currently holds a Zacks Sector Rank of #4. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Applied Therapeutics Inc. is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for APLT's full-year earnings has moved 18.6% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the latest available data, APLT has gained about 145.1% so far this year. Meanwhile, stocks in the Medical group have gained about 7.4% on average. This means that Applied Therapeutics Inc. is outperforming the sector as a whole this year.

Another stock in the Medical sector, CareCloud, Inc. (CCLD), has outperformed the sector so far this year. The stock's year-to-date return is 56.6%.

In CareCloud, Inc.'s case, the consensus EPS estimate for the current year increased 61.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Applied Therapeutics Inc. belongs to the Medical - Biomedical and Genetics industry, a group that includes 504 individual stocks and currently sits at #84 in the Zacks Industry Rank. On average, stocks in this group have lost 1.7% this year, meaning that APLT is performing better in terms of year-to-date returns.

In contrast, CareCloud, Inc. falls under the Medical Info Systems industry. Currently, this industry has 42 stocks and is ranked #69. Since the beginning of the year, the industry has moved -9.9%.

Applied Therapeutics Inc. and CareCloud, Inc. could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.

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