Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Has atai Life Sciences N.V. (ATAI) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Medical sector should help us answer this question.
atai Life Sciences N.V. is a member of our Medical group, which includes 997 different companies and currently sits at #7 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).
Over the past 90 days, the Zacks Consensus Estimate for ATAI's full-year earnings has moved 22.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, ATAI has returned 58.7% so far this year. Meanwhile, the Medical sector has returned an average of -3.9% on a year-to-date basis. As we can see, atai Life Sciences N.V. is performing better than its sector in the calendar year.
Idexx Laboratories (IDXX) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 28.3%.
The consensus estimate for Idexx Laboratories' current year EPS has increased 1.9% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, atai Life Sciences N.V. belongs to the Medical - Outpatient and Home Healthcare industry, a group that includes 17 individual companies and currently sits at #33 in the Zacks Industry Rank. On average, stocks in this group have gained 5.2% this year, meaning that ATAI is performing better in terms of year-to-date returns.
Idexx Laboratories, however, belongs to the Medical - Instruments industry. Currently, this 85-stock industry is ranked #175. The industry has moved -9.8% so far this year.
atai Life Sciences N.V. and Idexx Laboratories could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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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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