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Is IDEXX Laboratories (IDXX) Outperforming Other Medical Stocks This Year?
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Investors focused on the Medical space have likely heard of IDEXX Laboratories (IDXX - Free Report) , 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 IDXX and the rest of the Medical group's stocks.
IDEXX Laboratories is one of 1017 companies in the Medical group. The Medical group currently sits at #15 within 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. IDXX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for IDXX's full-year earnings has moved 6.92% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, IDXX has gained about 10.09% so far this year. In comparison, Medical companies have returned an average of -1.07%. As we can see, IDEXX Laboratories is performing better than its sector in the calendar year.
Looking more specifically, IDXX belongs to the Medical - Instruments industry, a group that includes 96 individual stocks and currently sits at #202 in the Zacks Industry Rank. On average, stocks in this group have lost 5.15% this year, meaning that IDXX is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on IDXX as it attempts to continue its solid performance.
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Is IDEXX Laboratories (IDXX) Outperforming Other Medical Stocks This Year?
Investors focused on the Medical space have likely heard of IDEXX Laboratories (IDXX - Free Report) , 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 IDXX and the rest of the Medical group's stocks.
IDEXX Laboratories is one of 1017 companies in the Medical group. The Medical group currently sits at #15 within 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. IDXX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for IDXX's full-year earnings has moved 6.92% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, IDXX has gained about 10.09% so far this year. In comparison, Medical companies have returned an average of -1.07%. As we can see, IDEXX Laboratories is performing better than its sector in the calendar year.
Looking more specifically, IDXX belongs to the Medical - Instruments industry, a group that includes 96 individual stocks and currently sits at #202 in the Zacks Industry Rank. On average, stocks in this group have lost 5.15% this year, meaning that IDXX is performing better in terms of year-to-date returns.
Investors in the Medical sector will want to keep a close eye on IDXX as it attempts to continue its solid performance.