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Is Innoviva (INVA) Stock Outpacing Its Medical Peers This Year?

Investors focused on the Medical space have likely heard of Innoviva (INVA), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of INVA and the rest of the Medical group's stocks.

Innoviva is a member of our Medical group, which includes 840 different companies and currently sits at #2 in 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. INVA is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for INVA's full-year earnings has moved 4.37% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, INVA has returned 16.14% so far this year. At the same time, Medical stocks have lost an average of 4.71%. This means that Innoviva is performing better than its sector in terms of year-to-date returns.

Breaking things down more, INVA is a member of the Medical - Biomedical and Genetics industry, which includes 340 individual companies and currently sits at #76 in the Zacks Industry Rank. This group has lost an average of 21.96% so far this year, so INVA is performing better in this area.

INVA will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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