Is Moderna (MRNA) Outperforming Other Medical Stocks This Year?
Investors focused on the Medical space have likely heard of Moderna (MRNA), but is the stock performing well in comparison to the rest of its sector peers? 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 905 companies in the Medical group. The Medical group currently sits at #3 within 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 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).
Over the past 90 days, the Zacks Consensus Estimate for MRNA's full-year earnings has moved 12.82% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, MRNA has gained about 7.06% so far this year. Meanwhile, the Medical sector has returned an average of 2.48% on a year-to-date basis. This shows that Moderna is outperforming its peers so far this year.
Looking more specifically, MRNA belongs to the Medical - Biomedical and Genetics industry, which includes 387 individual stocks and currently sits at #85 in the Zacks Industry Rank. This group has gained an average of 0.42% so far this year, so MRNA is performing better in this area.
Going forward, investors interested in Medical stocks should continue to pay close attention to MRNA as it looks to continue its solid performance.
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