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Is Incyte (INCY) Stock Outpacing Its Medical Peers This Year?

Zacks Equity Research

Investors focused on the Medical space have likely heard of Incyte (INCY), 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 INCY and the rest of the Medical group's stocks.

Incyte is one of 889 individual stocks in the Medical sector. Collectively, these companies sit 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 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. INCY is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for INCY's full-year earnings has moved 11.52% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Based on the latest available data, INCY has gained about 14.86% so far this year. Meanwhile, stocks in the Medical group have lost about 2.46% on average. This means that Incyte is performing better than its sector in terms of year-to-date returns.

Breaking things down more, INCY is a member of the Medical - Biomedical and Genetics industry, which includes 377 individual companies and currently sits at #80 in the Zacks Industry Rank. On average, this group has lost an average of 7.24% so far this year, meaning that INCY is performing better in terms of year-to-date returns.

Going forward, investors interested in Medical stocks should continue to pay close attention to INCY as it looks to continue its solid performance.


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