The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Moderna (MRNA) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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.
Moderna is one of 901 companies in the Medical group. The Medical group currently sits at #2 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. MRNA is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MRNA's full-year earnings has moved 1.65% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, MRNA has moved about 20.91% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 1.95% on average. As we can see, Moderna is performing better than its sector in the calendar year.
To break things down more, MRNA belongs to the Medical - Biomedical and Genetics industry, a group that includes 385 individual companies and currently sits at #70 in the Zacks Industry Rank. On average, this group has gained an average of 1.51% so far this year, meaning that MRNA is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on MRNA as it attempts to continue its solid performance.