Profound Medical (Profound Medical) Momentum Rank : 2 (As of May. 14, 2024)

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What is Profound Medical Momentum Rank?

Profound Medical has the Momentum Rank of 2.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Profound Medical's Momentum Rank

For the Medical Devices subindustry, Profound Medical's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Profound Medical's Momentum Rank Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Profound Medical's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Profound Medical's Momentum Rank falls into.

Profound Medical Momentum Rank Related Terms

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Profound Medical (Profound Medical) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Profound Medical Corp (NAS:PROF) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

PRN:Canada

Address

2400 Skymark Avenue, Unit 6, Mississauga, ON, CAN, L4W 5K5

Website

https://www.profoundmedical.com

Profound Medical Corp is a commercial-stage medical device company focused on the development and marketing of customizable, incision-free therapeutic systems for the image-guided ablation of diseased tissue utilizing its platform technologies and leveraging the healthcare system's existing imaging infrastructure. The company's product TULSA-PRO system combines real-time MRI, robotically driven transurethral sweeping-action thermal ultrasound with closed-loop temperature feedback control for the ablation of prostate tissue. The product is comprised of one-time-use devices and durable equipment that are used in conjunction with a customer's existing MRI scanner.