Investors focused on the Medical space have likely heard of IDEXX Laboratories (IDXX Quick QuoteIDXX - Free Report) , 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.

IDEXX Laboratories is one of 763 companies in the Medical group. The Medical group currently sits at #12 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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

Over the past three months, the Zacks Consensus Estimate for IDXX's full-year earnings has moved 1.57% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the most recent data, IDXX has returned 42.54% so far this year. At the same time, Medical stocks have gained an average of 2.06%. This means that IDEXX Laboratories is outperforming the sector as a whole this year.

Looking more specifically, IDXX belongs to the Medical - Instruments industry, which includes 88 individual stocks and currently sits at #95 in the Zacks Industry Rank. This group has lost an average of 3.02% so far this year, so IDXX is performing better in this area.

IDXX will likely be looking to continue its solid performance, so investors interested Medical stocks should continue to pay close attention to the company.