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Is Innoviva (INVA) Outperforming Other Medical Stocks This Year?

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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Innoviva (INVA - Free Report) been one of those stocks this year? 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.

Innoviva is one of 1187 companies in the Medical group. The Medical group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. Innoviva is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for INVA's full-year earnings has moved 20.5% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that INVA has returned about 12.2% since the start of the calendar year. Meanwhile, stocks in the Medical group have lost about 4.9% on average. This shows that Innoviva is outperforming its peers so far this year.

Another Medical stock, which has outperformed the sector so far this year, is McKesson (MCK - Free Report) . The stock has returned 23.2% year-to-date.

Over the past three months, McKesson's consensus EPS estimate for the current year has increased 5.3%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Innoviva belongs to the Large Cap Pharmaceuticals industry, which includes 14 individual stocks and currently sits at #156 in the Zacks Industry Rank. On average, this group has gained an average of 3.9% so far this year, meaning that INVA is performing better in terms of year-to-date returns.

McKesson, however, belongs to the Medical - Dental Supplies industry. Currently, this 21-stock industry is ranked #105. The industry has moved -2.1% so far this year.

Investors interested in the Medical sector may want to keep a close eye on Innoviva and McKesson as they attempt to continue their solid performance.


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