The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is MacroGenics (MGNX) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
MacroGenics is one of 916 companies in the Medical group. The Medical group currently sits at #10 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 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. MacroGenics is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MGNX's full-year earnings has moved 50.6% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that MGNX has returned about 120.5% since the start of the calendar year. At the same time, Medical stocks have lost an average of 0.4%. This shows that MacroGenics is outperforming its peers so far this year.
C4 Therapeutics, Inc. (CCCC) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 49.2%.
Over the past three months, C4 Therapeutics, Inc.'s consensus EPS estimate for the current year has increased 1.7%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, MacroGenics belongs to the Medical - Products industry, a group that includes 81 individual companies and currently sits at #95 in the Zacks Industry Rank. This group has lost an average of 23.3% so far this year, so MGNX is performing better in this area.
On the other hand, C4 Therapeutics, Inc. belongs to the Medical - Biomedical and Genetics industry. This 449-stock industry is currently ranked #177. The industry has moved +0.6% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to MacroGenics and C4 Therapeutics, Inc. as they could maintain their solid performance.
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MacroGenics, Inc. (MGNX): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).