Investors focused on the Medical space have likely heard of Illumina (ILMN - Free Report) , 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 ILMN and the rest of the Medical group's stocks.
Illumina is a member of the Medical sector. This group includes 761 individual stocks and currently holds a Zacks Sector Rank of #7. 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 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. ILMN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for ILMN's full-year earnings has moved 5.78% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ILMN has returned 34.82% so far this year. At the same time, Medical stocks have gained an average of 1.84%. This means that Illumina is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ILMN belongs to the Medical - Biomedical and Genetics industry, which includes 281 individual stocks and currently sits at #152 in the Zacks Industry Rank. On average, stocks in this group have lost 0.22% this year, meaning that ILMN is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track ILMN. The stock will be looking to continue its solid performance.