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

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Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. 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 a member of the Medical sector. This group includes 927 individual stocks and currently holds a Zacks Sector Rank of #13. 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).

Over the past three months, the Zacks Consensus Estimate for IDXX's full-year earnings has moved 8.16% 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 91.15% so far this year. At the same time, Medical stocks have gained an average of 6.97%. As we can see, IDEXX Laboratories is performing better than its sector in the calendar year.

To break things down more, IDXX belongs to the Medical - Instruments industry, a group that includes 94 individual companies and currently sits at #164 in the Zacks Industry Rank. This group has gained an average of 24.18% 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 in Medical stocks should continue to pay close attention to the company.

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