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Has DexCom (DXCM) Outpaced 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. Has DexCom (DXCM - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
DexCom is a member of the Medical sector. This group includes 1062 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DexCom is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DXCM's full-year earnings has moved 3.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DXCM has moved about 12.9% on a year-to-date basis. In comparison, Medical companies have returned an average of 6.4%. This shows that DexCom is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Anika Therapeutics (ANIK - Free Report) . The stock is up 10.7% year-to-date.
Over the past three months, Anika Therapeutics' consensus EPS estimate for the current year has increased 800%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, DexCom belongs to the Medical - Instruments industry, a group that includes 91 individual companies and currently sits at #68 in the Zacks Industry Rank. On average, this group has gained an average of 7.3% so far this year, meaning that DXCM is performing better in terms of year-to-date returns.
Anika Therapeutics, however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 512-stock industry is ranked #81. The industry has moved +0.8% so far this year.
Going forward, investors interested in Medical stocks should continue to pay close attention to DexCom and Anika Therapeutics as they could maintain their solid performance.
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Has DexCom (DXCM) Outpaced Other Medical Stocks This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has DexCom (DXCM - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
DexCom is a member of the Medical sector. This group includes 1062 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DexCom is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for DXCM's full-year earnings has moved 3.6% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DXCM has moved about 12.9% on a year-to-date basis. In comparison, Medical companies have returned an average of 6.4%. This shows that DexCom is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Anika Therapeutics (ANIK - Free Report) . The stock is up 10.7% year-to-date.
Over the past three months, Anika Therapeutics' consensus EPS estimate for the current year has increased 800%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, DexCom belongs to the Medical - Instruments industry, a group that includes 91 individual companies and currently sits at #68 in the Zacks Industry Rank. On average, this group has gained an average of 7.3% so far this year, meaning that DXCM is performing better in terms of year-to-date returns.
Anika Therapeutics, however, belongs to the Medical - Biomedical and Genetics industry. Currently, this 512-stock industry is ranked #81. The industry has moved +0.8% so far this year.
Going forward, investors interested in Medical stocks should continue to pay close attention to DexCom and Anika Therapeutics as they could maintain their solid performance.