Is QIAGEN N.V. (QGEN) Stock Outpacing Its Medical Peers This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. QIAGEN N.V. (QGEN) 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 QGEN and the rest of the Medical group's stocks.
QIAGEN N.V. is one of 902 companies in the Medical group. The Medical group currently sits at #14 within the Zacks Sector Rank. 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. QGEN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for QGEN's full-year earnings has moved 19.65% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, QGEN has returned 48.28% so far this year. In comparison, Medical companies have returned an average of -0.33%. This means that QIAGEN N.V. is outperforming the sector as a whole this year.
Looking more specifically, QGEN belongs to the Medical - Biomedical and Genetics industry, a group that includes 394 individual stocks and currently sits at #190 in the Zacks Industry Rank. Stocks in this group have gained about 1.27% so far this year, so QGEN 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 QGEN as it looks to continue its solid performance.
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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.