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For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Has IDEXX Laboratories (IDXX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
IDEXX Laboratories is one of 1046 individual stocks in the Medical sector. Collectively, these companies sit at #16 in the Zacks Sector Rank. 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 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. IDXX is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for IDXX's full-year earnings has moved 2.89% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, IDXX has moved about 34.26% on a year-to-date basis. In comparison, Medical companies have returned an average of -0.37%. As we can see, IDEXX Laboratories is performing better than its sector in the calendar year.
To break things down more, IDXX belongs to the Medical - Instruments industry, a group that includes 95 individual companies and currently sits at #181 in the Zacks Industry Rank. On average, stocks in this group have gained 10.55% this year, meaning that IDXX is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to IDXX as it looks to continue its solid performance.
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IDEXX Laboratories, Inc. (IDXX) : Free Stock Analysis Report
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