Has CareDx (CDNA) Outpaced Other Medical Stocks This Year?

Zacks
03 Dec 2024

The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is CareDx (CDNA) 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.

CareDx is a member of the Medical sector. This group includes 1025 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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

Over the past 90 days, the Zacks Consensus Estimate for CDNA's full-year earnings has moved 16.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, CDNA has moved about 113.7% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 2.1% on a year-to-date basis. This means that CareDx is performing better than its sector in terms of year-to-date returns.

Another stock in the Medical sector, Clover Health Investments, Corp. (CLOV), has outperformed the sector so far this year. The stock's year-to-date return is 260.3%.

For Clover Health Investments, Corp. the consensus EPS estimate for the current year has increased 7.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, CareDx is a member of the Medical Services industry, which includes 59 individual companies and currently sits at #138 in the Zacks Industry Rank. On average, stocks in this group have lost 5.4% this year, meaning that CDNA is performing better in terms of year-to-date returns.

In contrast, Clover Health Investments, Corp. falls under the Medical Info Systems industry. Currently, this industry has 42 stocks and is ranked #34. Since the beginning of the year, the industry has moved -3.7%.

Investors interested in the Medical sector may want to keep a close eye on CareDx and Clover Health Investments, Corp. as they attempt to continue their solid performance.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

CareDx, Inc. (CDNA) : Free Stock Analysis Report

Clover Health Investments, Corp. (CLOV) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10