The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is DexCom (DXCM) one of those stocks right now? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
DexCom is a member of the Medical sector. This group includes 985 individual stocks and currently holds a Zacks Sector Rank of #6. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. DexCom is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DXCM's full-year earnings has moved 0.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that DXCM has returned about 7.9% since the start of the calendar year. Meanwhile, the Medical sector has returned an average of -6.4% on a year-to-date basis. As we can see, DexCom is performing better than its sector in the calendar year.
Amarin (AMRN) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 63.1%.
The consensus estimate for Amarin's current year EPS has increased 54.1% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, DexCom belongs to the Medical - Instruments industry, a group that includes 84 individual companies and currently sits at #164 in the Zacks Industry Rank. Stocks in this group have lost about 11.5% so far this year, so DXCM is performing better this group in terms of year-to-date returns.
On the other hand, Amarin belongs to the Medical - Biomedical and Genetics industry. This 493-stock industry is currently ranked #86. The industry has moved -2.3% year to date.
Investors interested in the Medical sector may want to keep a close eye on DexCom and Amarin as they attempt to continue their solid performance.
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DexCom, Inc. (DXCM): Free Stock Analysis Report Amarin Corporation PLC (AMRN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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