Medtronic (BUE:MDT) Momentum Rank : 0 (As of Apr. 29, 2024)

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What is Medtronic Momentum Rank?

Medtronic 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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Medtronic (BUE:MDT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Medtronic PLC (BUE:MDT) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

MDT:USA MDTN:Mexico 1MDT:Italy 2M6:Germany 2M6:Germany 2M6:Germany 2M6:Germany MDTC34:Brazil MDT:Austria

Address

Lower Hatch Street, 20 On Hatch, Dublin, IRL, 2

Website

https://www.medtronic.com

One of the largest medical-device companies, Medtronic develops and manufactures therapeutic medical devices for chronic diseases. Its portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. The company markets its products to healthcare institutions and physicians in the United States and overseas. Foreign sales account for roughly 50% of the company's total sales.