Has GenMark Diagnostics (GNMK) Outpaced Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is GenMark Diagnostics (GNMK) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
GenMark Diagnostics is a member of our Medical group, which includes 903 different companies and currently sits at #5 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. GNMK is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for GNMK's full-year earnings has moved 27.75% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, GNMK has returned 276.92% so far this year. Meanwhile, the Medical sector has returned an average of 2.65% on a year-to-date basis. As we can see, GenMark Diagnostics is performing better than its sector in the calendar year.
Looking more specifically, GNMK belongs to the Medical - Instruments industry, a group that includes 97 individual stocks and currently sits at #150 in the Zacks Industry Rank. On average, stocks in this group have gained 13.87% this year, meaning that GNMK is performing better in terms of year-to-date returns.
GNMK will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.
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