Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. 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 one of 914 companies in the Medical group. The Medical group currently sits at #9 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. DexCom is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DXCM's full-year earnings has moved 3.5% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, DXCM has moved about 14% on a year-to-date basis. Meanwhile, the Medical sector has returned an average of -1.4% on a year-to-date basis. As we can see, DexCom is performing better than its sector in the calendar year.
Adaptive Biotechnologies (ADPT) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 34.6%.
In Adaptive Biotechnologies' case, the consensus EPS estimate for the current year increased 6% 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 77 individual companies and currently sits at #178 in the Zacks Industry Rank. On average, this group has lost an average of 16.4% so far this year, meaning that DXCM is performing better in terms of year-to-date returns.
In contrast, Adaptive Biotechnologies falls under the Medical - Biomedical and Genetics industry. Currently, this industry has 438 stocks and is ranked #98. Since the beginning of the year, the industry has moved +0.6%.
DexCom and Adaptive Biotechnologies could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
Zacks' Research Chief Names "Stock Most Likely to Double"
Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.
This top pick is a little-known satellite-based communications firm. Space is projected to become a trillion dollar industry, and this company's customer base is growing fast. Analysts have forecasted a major revenue breakout in 2025. Of course, all our elite picks aren't winners but this one could far surpass earlier Zacks' Stocks Set to Double like Hims & Hers Health, which shot up +209%.
Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
DexCom, Inc. (DXCM): Free Stock Analysis Report
Adaptive Biotechnologies Corporation (ADPT): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).