Investors focused on the Medical space have likely heard of Tandem Diabetes Care (TNDM), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of TNDM and the rest of the Medical group’s stocks.
Tandem Diabetes Care is a member of the Medical sector. This group includes 839 individual stocks and currently holds a Zacks Sector Rank of #3. 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 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. TNDM is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for TNDM’s full-year earnings has moved 0.56% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the latest available data, TNDM has gained about 9.17% so far this year. Meanwhile, stocks in the Medical group have gained about 3.01% on average. As we can see, Tandem Diabetes Care is performing better than its sector in the calendar year.
Looking more specifically, TNDM belongs to the Medical – Instruments industry, a group that includes 90 individual stocks and currently sits at #86 in the Zacks Industry Rank. This group has gained an average of 6.77% so far this year, so TNDM is performing better in this area.
Investors in the Medical sector will want to keep a close eye on TNDM as it attempts to continue its solid performance.
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