Investors focused on the Medical space have likely heard of Novavax (NVAX Quick QuoteNVAX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.

Novavax is one of 899 individual stocks in the Medical sector. Collectively, these companies sit at #3 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 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. NVAX is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for NVAX's full-year earnings has moved 4.90% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, NVAX has returned 302.01% so far this year. Meanwhile, stocks in the Medical group have lost about 8.02% on average. As we can see, Novavax is performing better than its sector in the calendar year.

Looking more specifically, NVAX belongs to the Medical - Biomedical and Genetics industry, which includes 385 individual stocks and currently sits at #96 in the Zacks Industry Rank. Stocks in this group have lost about 4.38% so far this year, so NVAX is performing better this group in terms of year-to-date returns.

Investors in the Medical sector will want to keep a close eye on NVAX as it attempts to continue its solid performance.