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Is IDEXX Laboratories (IDXX) Outperforming Other Medical Stocks This Year?

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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. IDEXX Laboratories (IDXX - Free Report) 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? One simple way to answer this question is to take a look at the year-to-date performance of IDXX and the rest of the Medical group's stocks.

IDEXX Laboratories is one of 928 companies in the Medical group. The Medical group currently sits at #14 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. IDXX is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for IDXX's full-year earnings has moved 8.16% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that IDXX has returned about 75.07% since the start of the calendar year. At the same time, Medical stocks have gained an average of 5.59%. This means that IDEXX Laboratories is outperforming the sector as a whole this year.

Breaking things down more, IDXX is a member of the Medical - Instruments industry, which includes 94 individual companies and currently sits at #168 in the Zacks Industry Rank. On average, stocks in this group have gained 21.49% this year, meaning that IDXX is performing better in terms of year-to-date returns.

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


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