Investors focused on the Medical space have likely heard of QIAGEN N.V. (QGEN), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of QGEN and the rest of the Medical group's stocks.
QIAGEN N.V. is one of 899 individual stocks in the Medical sector. Collectively, these companies sit at #1 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 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. QGEN is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for QGEN's full-year earnings has moved 2.50% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that QGEN has returned about 16.75% since the start of the calendar year. Meanwhile, stocks in the Medical group have lost about 21.21% on average. This means that QIAGEN N.V. is outperforming the sector as a whole this year.
Looking more specifically, QGEN belongs to the Medical - Biomedical and Genetics industry, which includes 385 individual stocks and currently sits at #74 in the Zacks Industry Rank. On average, stocks in this group have lost 19.04% this year, meaning that QGEN is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track QGEN. The stock will be looking to continue its solid performance.