Investors focused on the Medical space have likely heard of Thermo Fisher Scientific (TMO Quick QuoteTMO - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.

Thermo Fisher Scientific is a member of the Medical sector. This group includes 867 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

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. TMO is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for TMO's full-year earnings has moved 0.38% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, TMO has gained about 27.42% so far this year. Meanwhile, stocks in the Medical group have gained about 2.46% on average. This means that Thermo Fisher Scientific is outperforming the sector as a whole this year.

Looking more specifically, TMO belongs to the Medical - Instruments industry, which includes 96 individual stocks and currently sits at #79 in the Zacks Industry Rank. This group has gained an average of 13.38% so far this year, so TMO is performing better in this area.

Investors in the Medical sector will want to keep a close eye on TMO as it attempts to continue its solid performance.