Investors focused on the Medical space have likely heard of Novavax (NVAX - 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.
Novavax 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 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 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. NVAX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NVAX's full-year earnings has moved 3.72% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that NVAX has returned about 21.20% since the start of the calendar year. At the same time, Medical stocks have gained an average of 2.08%. As we can see, Novavax is performing better than its sector in the calendar year.
Looking more specifically, NVAX belongs to the Medical - Biomedical and Genetics industry, which includes 345 individual stocks and currently sits at #51 in the Zacks Industry Rank. On average, stocks in this group have gained 11.15% this year, meaning that NVAX is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track NVAX. The stock will be looking to continue its solid performance.