Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. As of today (2024-06-24), Symmetry Surgical's Beta is Not available.
Symmetry Surgical Beta Historical Data
The historical data trend for Symmetry Surgical's Beta can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Symmetry Surgical's Beta
For the Medical Devices subindustry, Symmetry Surgical's Beta, along with its competitors' market caps and Beta 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.
Symmetry Surgical's Beta Distribution in the Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Symmetry Surgical's Beta distribution charts can be found below:
* The bar in red indicates where Symmetry Surgical's Beta falls into.
Symmetry Surgical Beta Calculation
Beta is the sensitivity of the expected excess asset returns to the expected excess market returns. A stock's beta can be calculated by dividing the product of the covariance of the individual stock's returns and the market's returns by the variance of the market's returns over a specified period. Basically, GuruFocus uses the returns calculated over three-year period.
Symmetry Surgical (FRA:RZV) Beta Explanation
Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. We usually compare beta to 1. A beta of 1 indicates that the security's price will move with the market. A beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 indicates that the security's price will be more volatile than the market.
Beta is primarily used in the Capital Asset Pricing Model (CAPM) to calculate the Cost of Equity, which can be used in the calculation of WACC %. The formula of Cost of Equity is:
Cost of Equity = Risk-Free Rate of Return + Beta of Asset * (Expected Return of the Market - Risk-Free Rate of Return)
Symmetry Surgical Beta Related Terms
Thank you for viewing the detailed overview of Symmetry Surgical's Beta provided by GuruFocus.com. Please click on the following links to see related term pages.
Symmetry Medical, Inc., is a Delaware corporation incorporated on July 25, 1996. It is a source of medical device products. The Company provides medical device solutions, including surgical instruments, orthopedic implants, and sterilization cases and trays. The Company designs, develops and offers worldwide production and supply chain capabilities for these products to customers in the orthopedic industry and other medical device markets. It also manufactures specialized non-healthcare products, mainly in the aerospace industry. It operates in two reportable segments namely Original Equipment Manufacturer (OEM) Solutions and Symmetry Surgical. Its main products produced in the OEM Solutions segment include: implants, including forged, cast and machined products for the global orthopedic device market; instruments used in the placement and removal of orthopedic implants and in other surgical procedures; cases, including plastic, metal and hybrid cases used to organize, secure and transport medical devices for orthopedic, endoscopy, dental and other surgical procedures; and other specialized products for the aerospace market. Symmetry Surgical is its new business segment. It arose from the integration of the Codman and Olsen Medical lines of surgical instruments with its Company's already existing hospital direct business, Specialty Surgical Instrumentation (SSI). Symmetry Surgical, which is headquartered in Nashville, Tennessee offers reusable stainless steel and titanium surgical hand-held instruments and retractor systems, sterile disposable surgical products, and sterilization containers. These products are used in the surgical specialties of spine, general/obstetrics/gynecology, microsurgery/neurosurgery, orthopedics, and laparoscopy, cardiovascular, thoracic and general surgery in the hospital setting as well as surgery centers and in select physician offices. The Company's OEM Solutions segment has manufacturing facilities in the U.S., United Kingdom, France, Ireland and Malaysia. The Company's subject to federal, state and local environmental laws and regulations governing the emission, discharge, use, storage and disposal of hazardous materials and the remediation of contamination associated with the release of these materials at our facilities and at off-site disposal locations.
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