Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is Moderna (MRNA - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Moderna is one of 887 individual stocks in the Medical sector. Collectively, these companies sit at #2 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. MRNA is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for MRNA's full-year earnings has moved 0.88% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MRNA has returned about 231.49% since the start of the calendar year. At the same time, Medical stocks have lost an average of 2.40%. This shows that Moderna is outperforming its peers so far this year.
Breaking things down more, MRNA is a member of the Medical - Biomedical and Genetics industry, which includes 381 individual companies and currently sits at #46 in the Zacks Industry Rank. On average, stocks in this group have gained 11.84% this year, meaning that MRNA is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to MRNA as it looks to continue its solid performance.