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The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Novavax (NVAX) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of NVAX and the rest of the Medical group's stocks.
Novavax is one of 898 individual stocks in the Medical sector. Collectively, these companies sit at #1 in 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. NVAX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for NVAX's full-year earnings has moved 20.40% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, NVAX has gained about 138.69% so far this year. Meanwhile, stocks in the Medical group have lost about 16.46% on average. This means that Novavax is outperforming the sector as a whole this year.
Breaking things down more, NVAX is a member of the Medical - Biomedical and Genetics industry, which includes 385 individual companies and currently sits at #77 in the Zacks Industry Rank. Stocks in this group have lost about 12.43% so far this year, so NVAX is performing better this group in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on NVAX as it attempts to continue its solid performance.
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