The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. 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? Let's take a closer look at the stock's year-to-date performance to find out.
atai Life Sciences N.V. is a member of our Medical group, which includes 997 different companies and currently sits at #5 in the Zacks Sector Rank. 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 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).
The Zacks Consensus Estimate for ATAI's full-year earnings has moved 0.8% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that ATAI has returned about 43.6% since the start of the calendar year. In comparison, Medical companies have returned an average of -6.3%. As we can see, atai Life Sciences N.V. is performing better than its sector in the calendar year.
Another stock in the Medical sector, Cardinal Health (CAH), has outperformed the sector so far this year. The stock's year-to-date return is 29.6%.
Over the past three months, Cardinal Health's consensus EPS estimate for the current year has increased 2.3%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, atai Life Sciences N.V. is a member of the Medical - Outpatient and Home Healthcare industry, which includes 17 individual companies and currently sits at #84 in the Zacks Industry Rank. On average, this group has gained an average of 3.7% so far this year, meaning that ATAI is performing better in terms of year-to-date returns.
On the other hand, Cardinal Health belongs to the Medical - Dental Supplies industry. This 14-stock industry is currently ranked #42. The industry has moved -1% year to date.
Investors interested in the Medical sector may want to keep a close eye on atai Life Sciences N.V. and Cardinal Health as they attempt to continue their solid performance.
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atai Life Sciences N.V. (ATAI): Free Stock Analysis Report Cardinal Health, Inc. (CAH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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