Investors focused on the Medical space have likely heard of TransEnterix , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of TRXC and the rest of the Medical group's stocks.
TransEnterix is one of 977 individual stocks in the Medical sector. Collectively, these companies sit at #16 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. TRXC is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for TRXC's full-year earnings has moved 19.05% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, TRXC has moved about 607.20% on a year-to-date basis. At the same time, Medical stocks have gained an average of 4.27%. This means that TransEnterix is performing better than its sector in terms of year-to-date returns.
To break things down more, TRXC belongs to the Medical - Instruments industry, a group that includes 99 individual companies and currently sits at #170 in the Zacks Industry Rank. This group has gained an average of 4.19% so far this year, so TRXC is performing better in this area.
Investors in the Medical sector will want to keep a close eye on TRXC as it attempts to continue its solid performance.