Investors focused on the Medical space have likely heard of Medtronic (MDT Quick QuoteMDT - 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 MDT and the rest of the Medical group's stocks.

Medtronic is one of 867 companies in the Medical group. The Medical group currently sits at #2 within 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. MDT is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for MDT's full-year earnings has moved 0.59% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, MDT has gained about 9.40% so far this year. Meanwhile, the Medical sector has returned an average of 0.91% on a year-to-date basis. This shows that Medtronic is outperforming its peers so far this year.

Looking more specifically, MDT belongs to the Medical - Products industry, a group that includes 79 individual stocks and currently sits at #67 in the Zacks Industry Rank. On average, this group has gained an average of 13.11% so far this year, meaning that MDT is slightly underperforming its industry in terms of year-to-date returns.

Investors in the Medical sector will want to keep a close eye on MDT as it attempts to continue its solid performance.