For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Liquidia Technologies, Inc. (LQDA) 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? 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.
Liquidia Technologies, Inc. is a member of the Medical sector. This group includes 1184 individual stocks and currently holds a Zacks Sector Rank of #6. 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 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. Liquidia Technologies, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for LQDA's full-year earnings has moved 16.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, LQDA has returned 10.5% so far this year. Meanwhile, the Medical sector has returned an average of -20% on a year-to-date basis. As we can see, Liquidia Technologies, Inc. is performing better than its sector in the calendar year.
Another stock in the Medical sector, PolyPid Ltd. (PYPD), has outperformed the sector so far this year. The stock's year-to-date return is 11.2%.
For PolyPid Ltd. the consensus EPS estimate for the current year has increased 2.7% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Liquidia Technologies, Inc. is a member of the Medical - Biomedical and Genetics industry, which includes 557 individual companies and currently sits at #64 in the Zacks Industry Rank. This group has lost an average of 23.9% so far this year, so LQDA is performing better in this area.
In contrast, PolyPid Ltd. falls under the Medical - Drugs industry. Currently, this industry has 220 stocks and is ranked #79. Since the beginning of the year, the industry has moved -24.3%.
Investors interested in the Medical sector may want to keep a close eye on Liquidia Technologies, Inc. and PolyPid Ltd. as they attempt to continue their solid performance.
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