Investors focused on the Medical space have likely heard of DexCom (DXCM - 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.
DexCom is one of 883 individual stocks in the Medical sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. DXCM 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 42.82% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, DXCM has moved about 78.15% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 11.02% on a year-to-date basis. This means that DexCom is performing better than its sector in terms of year-to-date returns.
Looking more specifically, DXCM belongs to the Medical - Instruments industry, which includes 95 individual stocks and currently sits at #95 in the Zacks Industry Rank. On average, stocks in this group have gained 21.61% this year, meaning that DXCM is performing better in terms of year-to-date returns.
DXCM will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.