Shockwave Medical (STU:36M) Momentum Rank : 1 (As of May. 21, 2024)

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What is Shockwave Medical Momentum Rank?

Shockwave Medical has the Momentum Rank of 1.

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 Shockwave Medical's Momentum Rank

For the Medical Devices subindustry, Shockwave 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.

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

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

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

Shockwave Medical Momentum Rank Related Terms

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Shockwave Medical (STU:36M) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Shockwave Medical Inc (STU:36M) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

SWAV:USA 36M:Germany

Address

5403 Betsy Ross Drive, Santa Clara, CA, USA, 95054

Website

https://www.shockwavemedical.com

ShockWave Medical Inc is a medical device company focused on developing and commercializing products intended to transform the way calcified cardiovascular disease is treated. Its intravascular lithotripsy technology is used in the treatment of calcified plaque. Geographically, the company generates its revenue from the United States, Europe and other countries.

Shockwave Medical (STU:36M) Headlines

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