Investors focused on the Medical space have likely heard of Incyte (INCY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Incyte is one of 883 companies in the Medical group. The Medical group currently sits at #3 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 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. INCY is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for INCY's full-year earnings has moved 8.33% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that INCY has returned about 41.78% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of 11.36% on a year-to-date basis. As we can see, Incyte is performing better than its sector in the calendar year.
Looking more specifically, INCY belongs to the Medical - Biomedical and Genetics industry, a group that includes 374 individual stocks and currently sits at #64 in the Zacks Industry Rank. On average, stocks in this group have gained 10.74% this year, meaning that INCY is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track INCY. The stock will be looking to continue its solid performance.