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Is IDEXX Laboratories (IDXX) Stock Outpacing Its Medical Peers 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 IDEXX Laboratories (IDXX) one of those stocks right now? 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 933 companies in the Medical group. The Medical group currently sits at #14 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track 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 16.45% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, IDXX has moved about 62.28% on a year-to-date basis. Meanwhile, stocks in the Medical group have gained about 1.58% on average. This means that IDEXX Laboratories is outperforming the sector as a whole this year.

To break things down more, IDXX belongs to the Medical - Instruments industry, a group that includes 95 individual companies and currently sits at #175 in the Zacks Industry Rank. On average, stocks in this group have gained 21.42% this year, meaning that IDXX is performing better in terms of year-to-date returns.

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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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