Yahoo Finance Is DexCom (DXCM) Outperforming Other Medical Stocks This Year?
For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is DexCom (DXCM) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
DexCom is a member of our Medical group, which includes 1051 different companies and currently sits at #4 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. DexCom is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for DXCM's full-year earnings has moved 3.7% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that DXCM has returned about 13.1% since the start of the calendar year. In comparison, Medical companies have returned an average of 2.6%. This shows that DexCom is outperforming its peers so far this year.
One other Medical stock that has outperformed the sector so far this year is Anika Therapeutics (ANIK). The stock is up 14.1% year-to-date.
For Anika Therapeutics, the consensus EPS estimate for the current year has increased 800% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, DexCom belongs to the Medical - Instruments industry, a group that includes 92 individual companies and currently sits at #91 in the Zacks Industry Rank. Stocks in this group have gained about 7.2% so far this year, so DXCM is performing better this group in terms of year-to-date returns.
On the other hand, Anika Therapeutics belongs to the Medical - Biomedical and Genetics industry. This 506-stock industry is currently ranked #82. The industry has moved -4.3% year to date.
Investors with an interest in Medical stocks should continue to track DexCom and Anika Therapeutics. These stocks will be looking to continue their solid performance.
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DexCom, Inc. (DXCM) : Free Stock Analysis Report
Anika Therapeutics Inc. (ANIK) : Free Stock Analysis Report
