Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Myriad Genetics (MYGN - Free Report) been one of those stocks this year? 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.
Myriad Genetics is a member of our Medical group, which includes 842 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. MYGN is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MYGN's full-year earnings has moved 6.13% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, MYGN has moved about 5.50% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 2.08% on average. This shows that Myriad Genetics is outperforming its peers so far this year.
Breaking things down more, MYGN is a member of the Medical - Biomedical and Genetics industry, which includes 345 individual companies and currently sits at #51 in the Zacks Industry Rank. On average, stocks in this group have gained 11.15% this year, meaning that MYGN is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on MYGN as it attempts to continue its solid performance.