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Is NovoCure (NVCR) Outperforming Other Medical Stocks This Year?

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Investors focused on the Medical space have likely heard of NovoCure (NVCR - Free Report) , 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.

NovoCure is one of 935 individual stocks in the Medical sector. Collectively, these companies sit at #13 in the Zacks Sector Rank. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. NVCR is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for NVCR's full-year earnings has moved 68.21% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, NVCR has moved about 33.33% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 1.08% on average. As we can see, NovoCure is performing better than its sector in the calendar year.

Looking more specifically, NVCR belongs to the Medical Services industry, a group that includes 35 individual stocks and currently sits at #174 in the Zacks Industry Rank. On average, stocks in this group have gained 24.56% this year, meaning that NVCR is performing better in terms of year-to-date returns.

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

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