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Is Moderna (MRNA) Outperforming Other Medical Stocks This Year?
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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Moderna (MRNA - Free Report) 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 899 companies in the Medical group. The Medical group currently sits at #3 within 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 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. MRNA is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MRNA's full-year earnings has moved 5.68% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, MRNA has gained about 49.08% so far this year. Meanwhile, stocks in the Medical group have lost about 3.83% on average. As we can see, Moderna is performing better than its sector in the calendar year.
Breaking things down more, MRNA is a member of the Medical - Biomedical and Genetics industry, which includes 385 individual companies and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have lost about 0.89% so far this year, so MRNA is performing better this group in terms of year-to-date returns.
MRNA will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
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Is Moderna (MRNA) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Moderna (MRNA - Free Report) 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 899 companies in the Medical group. The Medical group currently sits at #3 within 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 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. MRNA is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MRNA's full-year earnings has moved 5.68% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, MRNA has gained about 49.08% so far this year. Meanwhile, stocks in the Medical group have lost about 3.83% on average. As we can see, Moderna is performing better than its sector in the calendar year.
Breaking things down more, MRNA is a member of the Medical - Biomedical and Genetics industry, which includes 385 individual companies and currently sits at #93 in the Zacks Industry Rank. Stocks in this group have lost about 0.89% so far this year, so MRNA is performing better this group in terms of year-to-date returns.
MRNA will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.