Investors focused on the Medical space have likely heard of DexCom (DXCM), 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 DXCM and the rest of the Medical group's stocks.
DexCom is one of 899 individual stocks in the Medical sector. Collectively, these companies sit at #3 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 90 days, the Zacks Consensus Estimate for DXCM's full-year earnings has moved 22.61% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DXCM has moved about 29.82% on a year-to-date basis. At the same time, Medical stocks have lost an average of 3.78%. This means that DexCom is outperforming the sector as a whole this year.
To break things down more, DXCM belongs to the Medical - Instruments industry, a group that includes 96 individual companies and currently sits at #63 in the Zacks Industry Rank. Stocks in this group have lost about 1.84% so far this year, so DXCM is performing better this group 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.