For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Moderna (MRNA) 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 a member of the Medical sector. This group includes 892 individual stocks and currently holds a Zacks Sector Rank of #1. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MRNA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MRNA's full-year earnings has moved 6.46% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that MRNA has returned about 158.18% since the start of the calendar year. At the same time, Medical stocks have lost an average of 4.84%. This means that Moderna is outperforming the sector as a whole this year.
Looking more specifically, MRNA belongs to the Medical - Biomedical and Genetics industry, a group that includes 382 individual stocks and currently sits at #10 in the Zacks Industry Rank. Stocks in this group have gained about 1.91% so far this year, so MRNA is performing better this group 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.
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Moderna, Inc. (MRNA): Free Stock Analysis Report
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