Investors focused on the Medical space have likely heard of Invitae (NVTA - Free Report) , 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 NVTA and the rest of the Medical group's stocks.
Invitae is a member of the Medical sector. This group includes 889 individual stocks and currently holds a Zacks Sector Rank of #1. 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 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. NVTA is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for NVTA's full-year earnings has moved 9.59% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, NVTA has returned 3.78% so far this year. At the same time, Medical stocks have lost an average of 1.32%. This means that Invitae is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NVTA belongs to the Medical Info Systems industry, a group that includes 30 individual stocks and currently sits at #51 in the Zacks Industry Rank. Stocks in this group have gained about 4.83% so far this year, so NVTA is slightly underperforming its industry this group in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on NVTA as it attempts to continue its solid performance.