Investors focused on the Medical space have likely heard of Editas Medicine (EDIT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Editas Medicine is one of 764 companies in the Medical group. The Medical group currently sits at #10 within 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. EDIT is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for EDIT's full-year earnings has moved 0.33% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, EDIT has moved about 17.15% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 0.36% on average. This means that Editas Medicine is performing better than its sector in terms of year-to-date returns.
Breaking things down more, EDIT is a member of the Medical - Biomedical and Genetics industry, which includes 283 individual companies and currently sits at #105 in the Zacks Industry Rank. Stocks in this group have lost about 5.92% so far this year, so EDIT is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to EDIT as it looks to continue its solid performance.