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 894 individual stocks in the Medical sector. Collectively, these companies sit at #1 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 26.94% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that DXCM has returned about 28.31% since the start of the calendar year. Meanwhile, stocks in the Medical group have lost about 6.97% on average. This means that DexCom is performing better than its sector in terms of year-to-date returns.
Breaking things down more, DXCM is a member of the Medical - Instruments industry, which includes 94 individual companies and currently sits at #37 in the Zacks Industry Rank. Stocks in this group have lost about 6.58% so far this year, so DXCM is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to DXCM as it looks to continue its solid performance.