Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has Novavax (NVAX - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Novavax is one of 887 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 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. NVAX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NVAX's full-year earnings has moved 79.57% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, NVAX has gained about 1,210.30% so far this year. Meanwhile, stocks in the Medical group have lost about 1.63% on average. This means that Novavax is performing better than its sector in terms of year-to-date returns.
Looking more specifically, NVAX belongs to the Medical - Biomedical and Genetics industry, which includes 381 individual stocks and currently sits at #39 in the Zacks Industry Rank. On average, this group has gained an average of 8.58% so far this year, meaning that NVAX is performing better in terms of year-to-date returns.
NVAX will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.