Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Is AtaiBeckley Inc (ATAI) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
AtaiBeckley Inc is one of 918 companies in the Medical group. The Medical group currently sits at #10 within 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 system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. AtaiBeckley Inc is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ATAI's full-year earnings has moved 5.7% higher. 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 21.5% since the start of the calendar year. At the same time, Medical stocks have gained an average of 0.3%. As we can see, AtaiBeckley Inc is performing better than its sector in the calendar year.
Another stock in the Medical sector, Brainsway Ltd. Sponsored ADR (BWAY), has outperformed the sector so far this year. The stock's year-to-date return is 48.3%.
The consensus estimate for Brainsway Ltd. Sponsored ADR's current year EPS has increased 7.6% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, AtaiBeckley Inc is a member of the Medical - Biomedical and Genetics industry, which includes 440 individual companies and currently sits at #163 in the Zacks Industry Rank. On average, this group has gained an average of 2.2% so far this year, meaning that ATAI is performing better in terms of year-to-date returns.
In contrast, Brainsway Ltd. Sponsored ADR falls under the Medical - Products industry. Currently, this industry has 84 stocks and is ranked #201. Since the beginning of the year, the industry has moved -21.6%.
Going forward, investors interested in Medical stocks should continue to pay close attention to AtaiBeckley Inc and Brainsway Ltd. Sponsored ADR as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).