The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Dynavax Technologies (DVAX) 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.
Dynavax Technologies is a member of the Medical sector. This group includes 1111 individual stocks and currently holds a Zacks Sector Rank of #11. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Dynavax Technologies is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DVAX’s full-year earnings has moved 97.1% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
According to our latest data, DVAX has moved about 219.6% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 5.5% on average. This shows that Dynavax Technologies is outperforming its peers so far this year.
Another stock in the Medical sector, Omnicell (OMCL), has outperformed the sector so far this year. The stock’s year-to-date return is 51.4%.
Over the past three months, Omnicell’s consensus EPS estimate for the current year has increased 7.6%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Dynavax Technologies belongs to the Medical – Biomedical and Genetics industry, a group that includes 509 individual companies and currently sits at #162 in the Zacks Industry Rank. Stocks in this group have lost about 19.5% so far this year, so DVAX is performing better this group in terms of year-to-date returns.
On the other hand, Omnicell belongs to the Medical Info Systems industry. This 42-stock industry is currently ranked #171. The industry has moved -38.4% year to date.
Dynavax Technologies and Omnicell could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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