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MARKETS LIVE BLOG:

STOCKS TRADE HIGHER; DISNEY SINKS AFTER EARNINGS

Disney's surprise streaming entertainment profit offset by weaker TV business

Is IDEXX Laboratories (IDXX) Stock Outpacing Its Medical Peers This Year?

Zacks Equity Research
·2 min read

Investors focused on the Medical space have likely heard of IDEXX Laboratories (IDXX), 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.

IDEXX Laboratories is one of 1045 individual stocks in the Medical sector. Collectively, these companies sit at #16 in 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 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. IDXX is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for IDXX's full-year earnings has moved 4.66% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Our latest available data shows that IDXX has returned about 35.35% since the start of the calendar year. At the same time, Medical stocks have lost an average of 1.37%. This means that IDEXX Laboratories is performing better than its sector in terms of year-to-date returns.

Breaking things down more, IDXX is a member of the Medical - Instruments industry, which includes 95 individual companies and currently sits at #180 in the Zacks Industry Rank. This group has gained an average of 12.28% so far this year, so IDXX is performing better in this area.

IDXX will likely be looking to continue its solid performance, so investors interested in Medical stocks should continue to pay close attention to the company.


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Zacks Investment Research