Investors focused on the Medical space have likely heard of Illumina (ILMN), but is the stock performing well in comparison to the rest of its sector peers? 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.
Illumina is one of 845 companies in the Medical group. The Medical group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. ILMN is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ILMN's full-year earnings has moved 2.56% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ILMN has gained about 8.28% so far this year. Meanwhile, the Medical sector has returned an average of 5.72% on a year-to-date basis. This shows that Illumina is outperforming its peers so far this year.
To break things down more, ILMN belongs to the Medical - Biomedical and Genetics industry, a group that includes 352 individual companies and currently sits at #72 in the Zacks Industry Rank. On average, this group has gained an average of 6.18% so far this year, meaning that ILMN is performing better in terms of year-to-date returns.
Going forward, investors interested in Medical stocks should continue to pay close attention to ILMN as it looks to continue its solid performance.
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