For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is DexCom (DXCM) 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.
DexCom is a member of the Medical sector. This group includes 902 individual stocks and currently holds a Zacks Sector Rank of #2. 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. 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 2.18% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, DXCM has gained about 9.82% so far this year. At the same time, Medical stocks have gained an average of 2.29%. This means that DexCom is outperforming the sector as a whole this year.
Looking more specifically, DXCM belongs to the Medical - Instruments industry, which includes 96 individual stocks and currently sits at #105 in the Zacks Industry Rank. Stocks in this group have gained about 1.32% so far this year, so DXCM is performing better this group in terms of year-to-date returns.
Investors with an interest in Medical stocks should continue to track DXCM. The stock will be looking to continue its solid performance.