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 999 individual stocks in the Medical sector. Collectively, these companies sit at #5 in 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 0.8% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ATAI has returned 81.2% so far this year. At the same time, Medical stocks have lost an average of 3.4%. 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 Novartis (NVS). The stock is up 21.3% year-to-date.
The consensus estimate for Novartis' current year EPS has increased 3.2% 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 #64 in the Zacks Industry Rank. Stocks in this group have gained about 5.1% so far this year, so ATAI is performing better this group in terms of year-to-date returns.
On the other hand, Novartis belongs to the Large Cap Pharmaceuticals industry. This 11-stock industry is currently ranked #42. The industry has moved -1.1% year to date.
Investors with an interest in Medical stocks should continue to track atai Life Sciences N.V. and Novartis. These stocks will be looking to continue their solid performance.
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atai Life Sciences N.V. (ATAI): Free Stock Analysis Report Novartis AG (NVS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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