Are Medical Stocks Lagging Adagene (ADAG) This Year?

Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Adagene Inc. Sponsored ADR (ADAG) 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? Let's take a closer look at the stock's year-to-date performance to find out.Adagene Inc. Sponsored ADR is a member of the Medical sector. This group includes 972 individual stocks and currently holds a Zacks Sector Rank of #6. 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. Adagene Inc. Sponsored ADR is currently sporting a Zacks Rank of #2 (Buy).Within the past quarter, the Zacks Consensus Estimate for ADAG's full-year earnings has moved 7.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.Our latest available data shows that ADAG has returned about 2% since the start of the calendar year. At the same time, Medical stocks have lost an average of 2.3%. This means that Adagene Inc. Sponsored ADR is outperforming the sector as a whole this year.Bayer Aktiengesellschaft (BAYRY) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 65.4%.In Bayer Aktiengesellschaft's case, the consensus EPS estimate for the current year increased 9.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).Looking more specifically, Adagene Inc. Sponsored ADR belongs to the Medical - Biomedical and Genetics industry, a group that includes 483 individual stocks and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 3% so far this year, so ADAG is slightly underperforming its industry in this area. In contrast, Bayer Aktiengesellschaft falls under the Large Cap Pharmaceuticals industry. Currently, this industry has 10 stocks and is ranked #102. Since the beginning of the year, the industry has moved -0.4%.Adagene Inc. Sponsored ADR and Bayer Aktiengesellschaft could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.Free Report: Profiting from the 2nd Wave of AI ExplosionThe next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.Investors who bought shares like Nvidia at the right time have had a shot at huge gains.But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.Access AI Boom 2.0 now, absolutely free >>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 Adagene Inc. Sponsored ADR (ADAG): Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks