Investors focused on the Medical space have likely heard of Inogen (INGN - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
Inogen is one of 845 individual stocks in the Medical sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. INGN is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for INGN's full-year earnings has moved 0.05% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, INGN has moved about 62.33% on a year-to-date basis. In comparison, Medical companies have returned an average of 2.55%. This means that Inogen is outperforming the sector as a whole this year.
To break things down more, INGN belongs to the Medical - Instruments industry, a group that includes 94 individual companies and currently sits at #101 in the Zacks Industry Rank. This group has gained an average of 18.59% so far this year, so INGN is performing better in this area.
Investors in the Medical sector will want to keep a close eye on INGN as it attempts to continue its solid performance.