We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Are Medical Stocks Lagging Mind Medicine MindMed (MNMD) This Year?
Read MoreHide Full Article
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Mind Medicine (MindMed) Inc. (MNMD - Free Report) 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.
Mind Medicine (MindMed) Inc. is one of 1046 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. Mind Medicine (MindMed) Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MNMD's full-year earnings has moved 23.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that MNMD has returned about 128.3% since the start of the calendar year. In comparison, Medical companies have returned an average of 3.3%. This means that Mind Medicine (MindMed) Inc. is performing better than its sector in terms of year-to-date returns.
ResMed (RMD - Free Report) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 20.4%.
For ResMed, the consensus EPS estimate for the current year has increased 2.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Mind Medicine (MindMed) Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 505 individual stocks and currently sits at #91 in the Zacks Industry Rank. Stocks in this group have lost about 4.9% so far this year, so MNMD is performing better this group in terms of year-to-date returns.
In contrast, ResMed falls under the Medical - Products industry. Currently, this industry has 91 stocks and is ranked #94. Since the beginning of the year, the industry has moved +3%.
Mind Medicine (MindMed) Inc. and ResMed could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Are Medical Stocks Lagging Mind Medicine MindMed (MNMD) This Year?
Investors interested in Medical stocks should always be looking to find the best-performing companies in the group. Mind Medicine (MindMed) Inc. (MNMD - Free Report) 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.
Mind Medicine (MindMed) Inc. is one of 1046 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. Mind Medicine (MindMed) Inc. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for MNMD's full-year earnings has moved 23.7% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that MNMD has returned about 128.3% since the start of the calendar year. In comparison, Medical companies have returned an average of 3.3%. This means that Mind Medicine (MindMed) Inc. is performing better than its sector in terms of year-to-date returns.
ResMed (RMD - Free Report) is another Medical stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 20.4%.
For ResMed, the consensus EPS estimate for the current year has increased 2.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Mind Medicine (MindMed) Inc. belongs to the Medical - Biomedical and Genetics industry, which includes 505 individual stocks and currently sits at #91 in the Zacks Industry Rank. Stocks in this group have lost about 4.9% so far this year, so MNMD is performing better this group in terms of year-to-date returns.
In contrast, ResMed falls under the Medical - Products industry. Currently, this industry has 91 stocks and is ranked #94. Since the beginning of the year, the industry has moved +3%.
Mind Medicine (MindMed) Inc. and ResMed could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.