For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is IDEXX Laboratories (IDXX - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
IDEXX Laboratories is one of 902 companies in the Medical group. The Medical group currently sits at #3 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 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. IDXX is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for IDXX's full-year earnings has moved 1.34% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, IDXX has moved about 5.08% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of 3.04% on a year-to-date basis. This means that IDEXX Laboratories is performing better than its sector in terms of year-to-date returns.
To break things down more, IDXX belongs to the Medical - Instruments industry, a group that includes 96 individual companies and currently sits at #157 in the Zacks Industry Rank. On average, stocks in this group have gained 2.06% this year, meaning that IDXX is performing better in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track IDXX. The stock will be looking to continue its solid performance.