Is TransEnterix (TRXC) Outperforming Other Medical Stocks This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has TransEnterix (TRXC) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
TransEnterix is one of 978 companies in the Medical group. The Medical group currently sits at #15 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. TRXC is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for TRXC's full-year earnings has moved 52.51% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, TRXC has gained about 421.60% so far this year. At the same time, Medical stocks have gained an average of 4.84%. This means that TransEnterix is performing better than its sector in terms of year-to-date returns.
Breaking things down more, TRXC is a member of the Medical - Instruments industry, which includes 99 individual companies and currently sits at #178 in the Zacks Industry Rank. This group has gained an average of 4.04% so far this year, so TRXC is performing better in this area.
Investors with an interest in Medical stocks should continue to track TRXC. The stock will be looking to continue its solid performance.
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