The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Cardiol Therapeutics Inc. (CRDL) one of those stocks right now? 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.
Cardiol Therapeutics Inc. is a member of the Medical sector. This group includes 1025 individual stocks and currently holds a Zacks Sector Rank of #2. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Cardiol Therapeutics Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CRDL's full-year earnings has moved 4.9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CRDL has returned 126.5% so far this year. Meanwhile, the Medical sector has returned an average of 6.6% on a year-to-date basis. This means that Cardiol Therapeutics Inc. is performing better than its sector in terms of year-to-date returns.
Another Medical stock, which has outperformed the sector so far this year, is Catalent (CTLT). The stock has returned 33.9% year-to-date.
Over the past three months, Catalent's consensus EPS estimate for the current year has increased 14.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Cardiol Therapeutics Inc. belongs to the Medical - Drugs industry, which includes 171 individual stocks and currently sits at #71 in the Zacks Industry Rank. This group has lost an average of 1.8% so far this year, so CRDL is performing better in this area. Catalent is also part of the same industry.
Cardiol Therapeutics Inc. and Catalent could continue their solid performance, so investors interested in Medical stocks should continue to pay close attention to these stocks.
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