Investors focused on the Medical space have likely heard of Moderna (MRNA - Free Report) , 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.
Moderna is one of 889 individual stocks in the Medical sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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).
Over the past three months, the Zacks Consensus Estimate for MRNA's full-year earnings has moved 11.24% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MRNA has returned 275.61% so far this year. Meanwhile, stocks in the Medical group have lost about 1.32% on average. This means that Moderna is outperforming the sector as a whole this year.
Breaking things down more, MRNA is a member of the Medical - Biomedical and Genetics industry, which includes 382 individual companies and currently sits at #13 in the Zacks Industry Rank. On average, this group has gained an average of 8.85% so far this year, meaning that MRNA is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track MRNA. The stock will be looking to continue its solid performance.