Sphere Medical Holding (LSE:SPHR) Momentum Rank : 0 (As of Jun. 12, 2024)

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What is Sphere Medical Holding Momentum Rank?

Sphere Medical Holding has the Momentum Rank of 0.

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.

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Sphere Medical Holding (LSE:SPHR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Sphere Medical Holding PLC (LSE:SPHR) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

N/A

Address

Harston Mill, Harston, Cambridge, GBR, CB22 7GG

Website

http://www.spheremedical.com

Sphere Medical Holding Ltd is a UK-based company which is engaged in research and development, manufacturing and sale of medical monitoring and diagnostic equipment within the medical device area. It focuses on developing the Proxima platform for measuring blood gases, electrolytes and metabolites. Proxima is an in-line patient dedicated arterial blood analyser which supports frequent measurements at critical times. It markets its product (Proxima) to critical care market which includes ICU (Intensive Care Unit) and OR (Operating Room). The company's products are used in medical applications, enabling faster clinical decision-making and improved patient outcomes. It operates is business in single reporting segment of Medical devices. Most of the company's revenue comes from Europe.