AddLife AB (LTS:0REZ) Momentum Rank : 5 (As of Jun. 06, 2024)

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What is AddLife AB Momentum Rank?

AddLife AB has the Momentum Rank of 5.

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 AddLife AB's Momentum Rank

For the Medical Instruments & Supplies subindustry, AddLife AB'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.

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

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

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

AddLife AB Momentum Rank Related Terms

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AddLife AB (LTS:0REZ) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » AddLife AB (LTS:0REZ) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

ALIF B:Sweden

Address

Brunkebergstorg 5, Box 3145, Stockholm, SWE, 103 62

Website

https://www.add.life

AddLife AB is engaged in the business of providing products, services, and advisory services. The company operates in Labtech and Medtech segments. The Labtech segment, which accounts for the majority of the company revenue, provides analytical instruments, equipment, microscopes, consumables, and reagents, as well as software support and technical service. The Medtech segment includes products related to surgery, thoracic medicine, neurology, wound care, anesthesia, intensive care, ear, nose and throat, ostomies, and home healthcare. AddLife mainly caters to hospitals & laboratories within healthcare, research, colleges, and universities, as well as the food and pharmaceutical industries. Its geographical segments are Sweden, Denmark, Finland, Norway, and Other countries.

AddLife AB (LTS:0REZ) Headlines

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