Sonic Healthcare (ASX:SHL) Momentum Rank : 4 (As of May. 02, 2024)

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What is Sonic Healthcare Momentum Rank?

Sonic Healthcare has the Momentum Rank of 4.

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 Sonic Healthcare's Momentum Rank

For the Diagnostics & Research subindustry, Sonic Healthcare'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.

Sonic Healthcare's Momentum Rank Distribution in the Medical Diagnostics & Research Industry

For the Medical Diagnostics & Research industry and Healthcare sector, Sonic Healthcare's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Sonic Healthcare's Momentum Rank falls into.

Sonic Healthcare Momentum Rank Related Terms

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Sonic Healthcare (ASX:SHL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Diagnostics & Research » Sonic Healthcare Ltd (ASX:SHL) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

SKHHY:USA SKHCF:USA SAB:Germany

Address

225 George Street, Level 22, Grosvenor Place, Sydney, NSW, AUS, 2000

Website

https://www.sonichealthcare.com

Sonic Healthcare is a global pathology provider. It is the largest private operator in Australia, Germany, Switzerland and the U.K., the second largest in Belgium and New Zealand and the third largest in the U.S. In addition to pathology, which contributes roughly 85% of group revenue, Sonic is the second largest player in diagnostic imaging in Australia and the largest operator of medical centers in Australia. The company typically earns about 40% of group revenue in Australia and New Zealand, 25% in the U.S. and 35% in Europe.

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