Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Charles River Laboratories (CRL) 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? 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.
Charles River Laboratories is a member of the Medical sector. This group includes 914 individual stocks and currently holds a Zacks Sector Rank of #6. 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 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. Charles River Laboratories is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for CRL's full-year earnings has moved 0.8% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CRL has moved about 17.4% on a year-to-date basis. Meanwhile, stocks in the Medical group have lost about 0.3% on average. This means that Charles River Laboratories is outperforming the sector as a whole this year.
Another stock in the Medical sector, Curaleaf Holdings, Inc. (CURLF), has outperformed the sector so far this year. The stock's year-to-date return is 19.2%.
Over the past three months, Curaleaf Holdings, Inc.'s consensus EPS estimate for the current year has increased 33.8%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Charles River Laboratories belongs to the Medical Services industry, a group that includes 72 individual stocks and currently sits at #92 in the Zacks Industry Rank. This group has gained an average of 0% so far this year, so CRL is performing better in this area.
In contrast, Curaleaf Holdings, Inc. falls under the Medical - Products industry. Currently, this industry has 84 stocks and is ranked #157. Since the beginning of the year, the industry has moved -16.5%.
Investors with an interest in Medical stocks should continue to track Charles River Laboratories and Curaleaf Holdings, Inc.. These stocks will be looking to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).