Investors focused on the Medical space have likely heard of Signal Genetics (MGEN), 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.
Signal Genetics is one of 901 companies in the Medical group. The Medical group currently sits at #1 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 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. MGEN is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MGEN's full-year earnings has moved 26.19% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, MGEN has gained about 56.28% so far this year. Meanwhile, stocks in the Medical group have gained about 2.09% on average. This shows that Signal Genetics is outperforming its peers so far this year.
To break things down more, MGEN belongs to the Medical - Biomedical and Genetics industry, a group that includes 385 individual companies and currently sits at #73 in the Zacks Industry Rank. This group has gained an average of 0.20% so far this year, so MGEN is performing better in this area.
Investors with an interest in Medical stocks should continue to track MGEN. The stock will be looking to continue its solid performance.