Yahoo Finance Is Mesa Laboratories (MLAB) Outperforming Other Medical Stocks This Year?
The Medical group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Mesa Labs (MLAB) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Mesa Labs is one of 1182 companies in the Medical group. The Medical group currently sits at #7 within the Zacks Sector Rank. 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 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. Mesa Labs is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MLAB's full-year earnings has moved 24% 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, MLAB has gained about 13.3% so far this year. Meanwhile, the Medical sector has returned an average of -16.4% on a year-to-date basis. This shows that Mesa Labs is outperforming its peers so far this year.
Another stock in the Medical sector, Cassava Sciences, Inc. (SAVA), has outperformed the sector so far this year. The stock's year-to-date return is 20.5%.
The consensus estimate for Cassava Sciences, Inc.'s current year EPS has increased 0.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Mesa Labs belongs to the Medical - Instruments industry, a group that includes 99 individual companies and currently sits at #141 in the Zacks Industry Rank. On average, stocks in this group have lost 25.8% this year, meaning that MLAB is performing better in terms of year-to-date returns.
Cassava Sciences, Inc. however, belongs to the Medical - Drugs industry. Currently, this 220-stock industry is ranked #87. The industry has moved -26.5% so far this year.
Investors with an interest in Medical stocks should continue to track Mesa Labs and Cassava Sciences, Inc. These stocks will be looking to continue their solid performance.
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Mesa Laboratories, Inc. (MLAB) : Free Stock Analysis Report
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