Has DexCom (DXCM) Outpaced Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. DexCom (DXCM) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 841 companies in the Medical group. The Medical group currently sits at #2 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. DXCM is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DXCM's full-year earnings has moved 74.28% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, DXCM has returned 111.55% so far this year. At the same time, Medical stocks have gained an average of 1.12%. This shows that DexCom is outperforming its peers so far this year.
Looking more specifically, DXCM belongs to the Medical - Instruments industry, a group that includes 93 individual stocks and currently sits at #76 in the Zacks Industry Rank. This group has gained an average of 11.92% so far this year, so DXCM is performing better in this area.
Going forward, investors interested in Medical stocks should continue to pay close attention to DXCM as it looks to continue its solid performance.
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