Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is atai Life Sciences N.V. (ATAI) 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.
atai Life Sciences N.V. is one of 986 individual stocks in the Medical sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. atai Life Sciences N.V. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ATAI's full-year earnings has moved 27.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ATAI has gained about 105.3% so far this year. Meanwhile, the Medical sector has returned an average of -2.6% on a year-to-date basis. This means that atai Life Sciences N.V. is performing better than its sector in terms of year-to-date returns.
One other Medical stock that has outperformed the sector so far this year is Idexx Laboratories (IDXX). The stock is up 30.9% year-to-date.
For Idexx Laboratories, the consensus EPS estimate for the current year has increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, atai Life Sciences N.V. belongs to the Medical - Outpatient and Home Healthcare industry, which includes 17 individual stocks and currently sits at #23 in the Zacks Industry Rank. On average, stocks in this group have gained 2.1% this year, meaning that ATAI is performing better in terms of year-to-date returns.
In contrast, Idexx Laboratories falls under the Medical - Instruments industry. Currently, this industry has 84 stocks and is ranked #168. Since the beginning of the year, the industry has moved -8.2%.
Investors with an interest in Medical stocks should continue to track atai Life Sciences N.V. and Idexx Laboratories. These stocks will be looking to continue their solid performance.
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atai Life Sciences N.V. (ATAI): Free Stock Analysis Report IDEXX Laboratories, Inc. (IDXX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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