Is Dynavax Technologies (DVAX) Outperforming Other Medical Stocks This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Dynavax Technologies (DVAX) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Dynavax Technologies is a member of our Medical group, which includes 1090 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Dynavax Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for DVAX's full-year earnings has moved 35.2% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, DVAX has gained about 27% so far this year. Meanwhile, stocks in the Medical group have lost about 8.9% on average. This means that Dynavax Technologies is performing better than its sector in terms of year-to-date returns.
Cardinal Health (CAH) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 32.3%.
The consensus estimate for Cardinal Health's current year EPS has increased 5.1% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Dynavax Technologies is a member of the Medical - Biomedical and Genetics industry, which includes 529 individual companies and currently sits at #69 in the Zacks Industry Rank. On average, stocks in this group have lost 20.3% this year, meaning that DVAX is performing better in terms of year-to-date returns.
In contrast, Cardinal Health falls under the Medical - Dental Supplies industry. Currently, this industry has 16 stocks and is ranked #73. Since the beginning of the year, the industry has moved +10.4%.
Investors with an interest in Medical stocks should continue to track Dynavax Technologies and Cardinal Health. These stocks will be looking to continue their solid performance.
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Dynavax Technologies Corporation (DVAX) : Free Stock Analysis Report
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