Nuwellis (ASX:SHC) Momentum Rank : 3 (As of May. 04, 2024)

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What is Nuwellis Momentum Rank?

Nuwellis has the Momentum Rank of 3.

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 Nuwellis's Momentum Rank

For the Medical Devices subindustry, Nuwellis'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.

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

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

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

Nuwellis Momentum Rank Related Terms

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Nuwellis (ASX:SHC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Nuwellis Inc (ASX:SHC) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

NUWE:USA 22SA:Germany

Address

12988 Valley View Road, Eden Prairie, MN, USA, 55344

Website

https://www.nuwellis.com

Nuwellis Inc is a medical device company. Its solutions include Aquadex Smartflow System and RenalSense Clarity RMS. The Aquadex Smartflow System removes excess fluid from patients suffering from fluid overload who have not responded to medical management, including diuretics. Clarity RMS is a kidney monitoring system that continuously measures urine output and flows, automatically displaying real-time data to the medical staff.