Is Moderna (MRNA) Stock Outpacing Its Medical Peers 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? Let's take a closer look at the stock's year-to-date performance to find out.
Moderna is one of 896 companies in the Medical group. The Medical group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
Within the past quarter, the Zacks Consensus Estimate for MRNA's full-year earnings has moved 6.46% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, MRNA has gained about 53.12% so far this year. At the same time, Medical stocks have lost an average of 12.78%. 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 385 individual companies and currently sits at #37 in the Zacks Industry Rank. This group has lost an average of 7.55% so far this year, so MRNA is performing better in this area.
Investors in the Medical sector will want to keep a close eye on MRNA as it attempts to continue its solid performance.
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