For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Perspective Therapeutics (CATX) 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.
Perspective Therapeutics is one of 914 individual stocks in the Medical sector. Collectively, these companies sit at #7 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Perspective Therapeutics is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CATX's full-year earnings has moved 5% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CATX has gained about 17.1% so far this year. At the same time, Medical stocks have lost an average of 0.7%. As we can see, Perspective Therapeutics is performing better than its sector in the calendar year.
One other Medical stock that has outperformed the sector so far this year is Charles River Laboratories (CRL). The stock is up 14.4% year-to-date.
The consensus estimate for Charles River Laboratories' current year EPS has increased 0.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Perspective Therapeutics belongs to the Medical - Drugs industry, a group that includes 137 individual stocks and currently sits at #100 in the Zacks Industry Rank. On average, this group has lost an average of 1.6% so far this year, meaning that CATX is performing better in terms of year-to-date returns.
On the other hand, Charles River Laboratories belongs to the Medical Services industry. This 72-stock industry is currently ranked #156. The industry has moved -1.1% year to date.
Going forward, investors interested in Medical stocks should continue to pay close attention to Perspective Therapeutics and Charles River Laboratories as they could maintain their solid performance.
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Perspective Therapeutics, Inc. (CATX): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).