Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. atai Life Sciences N.V. (ATAI) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 972 companies in the Medical group. The Medical group currently sits at #6 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. atai Life Sciences N.V. is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ATAI's full-year earnings has moved 16.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that ATAI has returned about 254.9% since the start of the calendar year. At the same time, Medical stocks have lost an average of 1.6%. This means that atai Life Sciences N.V. is performing better than its sector in terms of year-to-date returns.
Halozyme Therapeutics (HALO) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 60.4%.
Over the past three months, Halozyme Therapeutics' consensus EPS estimate for the current year has increased 14.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
To break things down more, atai Life Sciences N.V. belongs to the Medical - Outpatient and Home Healthcare industry, a group that includes 15 individual companies and currently sits at #70 in the Zacks Industry Rank. On average, stocks in this group have gained 9.9% this year, meaning that ATAI is performing better in terms of year-to-date returns.
On the other hand, Halozyme Therapeutics belongs to the Medical - Biomedical and Genetics industry. This 483-stock industry is currently ranked #99. The industry has moved +4.4% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to atai Life Sciences N.V. and Halozyme Therapeutics as they could maintain their solid performance.
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atai Life Sciences N.V. (ATAI): Free Stock Analysis Report Halozyme Therapeutics, Inc. (HALO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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