Pacific Biosciences of California (STU:P09) Momentum Rank : 2 (As of May. 23, 2024)

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What is Pacific Biosciences of California Momentum Rank?

Pacific Biosciences of California has the Momentum Rank of 2.

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 Pacific Biosciences of California's Momentum Rank

For the Medical Devices subindustry, Pacific Biosciences of California'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.

Pacific Biosciences of California's Momentum Rank Distribution in the Medical Devices & Instruments Industry

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

* The bar in red indicates where Pacific Biosciences of California's Momentum Rank falls into.

Pacific Biosciences of California Momentum Rank Related Terms

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Pacific Biosciences of California (STU:P09) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Pacific Biosciences of California Inc (STU:P09) » Definitions » Momentum Rank

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Traded in Other Exchanges

PACB:USA

Address

1305 O’Brien Drive, Menlo Park, CA, USA, 94025

Website

https://www.pacb.com

Pacific Biosciences of California Inc is a biotechnology company focused on the design, development, and commercialization of tools for biological research. The company develops sequencing systems to assist in resolving genetically complex problems. Its sequencing systems provide access to a wide range of applications and are designed for expandable improvements to performance capability. The majority of the company's revenue is derived from North America, followed by Asia and Europe.

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