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 our Medical group, which includes 756 different companies and currently sits at #5 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 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. ILMN is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for ILMN's full-year earnings has moved 12.39% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ILMN has returned about 67.96% since the start of the calendar year. In comparison, Medical companies have returned an average of 11.50%. As we can see, Illumina is performing better than its sector in the calendar year.
Breaking things down more, ILMN is a member of the Medical - Biomedical and Genetics industry, which includes 280 individual companies and currently sits at #100 in the Zacks Industry Rank. On average, stocks in this group have gained 2.32% this year, meaning that ILMN is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to ILMN as it looks to continue its solid performance.