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Is T2 Biosystems (TTOO) Stock Outpacing Its Medical Peers This Year?

Investors focused on the Medical space have likely heard of T2 Biosystems (TTOO), but is the stock performing well in comparison to the rest of its sector peers? 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.

T2 Biosystems is one of 902 individual stocks in the Medical sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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

Within the past quarter, the Zacks Consensus Estimate for TTOO's full-year earnings has moved 37.50% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, TTOO has gained about 5.13% so far this year. Meanwhile, stocks in the Medical group have lost about 0.33% on average. This means that T2 Biosystems is outperforming the sector as a whole this year.

Looking more specifically, TTOO belongs to the Medical - Instruments industry, which includes 97 individual stocks and currently sits at #183 in the Zacks Industry Rank. Stocks in this group have gained about 13.28% so far this year, so TTOO is slightly underperforming its industry this group in terms of year-to-date returns.

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


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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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