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Is Invitae (NVTA) Stock Outpacing Its Medical Peers This Year?

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Investors focused on the Medical space have likely heard of Invitae , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Invitae is one of 888 companies in the Medical group. The Medical group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. NVTA is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for NVTA's full-year earnings has moved 12.27% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, NVTA has returned 8.18% so far this year. At the same time, Medical stocks have gained an average of 0.91%. As we can see, Invitae is performing better than its sector in the calendar year.

Looking more specifically, NVTA belongs to the Medical Info Systems industry, a group that includes 30 individual stocks and currently sits at #59 in the Zacks Industry Rank. On average, stocks in this group have gained 8.38% this year, meaning that NVTA is slightly underperforming its industry in terms of year-to-date returns.

Investors with an interest in Medical stocks should continue to track NVTA. The stock will be looking to continue its solid performance.

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