Carl Zeiss Meditec AG (XTER:AFX) Momentum Rank : 7 (As of May. 10, 2024)

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What is Carl Zeiss Meditec AG Momentum Rank?

Carl Zeiss Meditec AG has the Momentum Rank of 7.

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 Carl Zeiss Meditec AG's Momentum Rank

For the Medical Instruments & Supplies subindustry, Carl Zeiss Meditec AG'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.

Carl Zeiss Meditec AG's Momentum Rank Distribution in the Medical Devices & Instruments Industry

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

* The bar in red indicates where Carl Zeiss Meditec AG's Momentum Rank falls into.

Carl Zeiss Meditec AG Momentum Rank Related Terms

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Carl Zeiss Meditec AG (XTER:AFX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Carl Zeiss Meditec AG (XTER:AFX) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

CZMWY:USA CZMWF:USA 1AFX:Italy AFXd:UK 0DHC:UK AFX:Austria

Address

Goschwitzer Strasse 51-52, Jena, TH, DEU, 07745

Website

https://www.zeiss.com

Carl Zeiss Meditec is one of the largest medical technology companies in the world and it operates in two segments: Ophthalmic devices and Microsurgery. OPT, which made up 75% of sales in 2022, includes refractive lasers, surgical ophthalmic devices, equipment for ophthalmic diagnostics, as well as a portfolio of intraocular lenses and disposable medical instruments. With a low-teens share of the market, Zeiss is the second-largest player in the space. MCS is composed of implants, surgical instruments, and visualization devices used during neurosurgery, spine surgery, and otolaryngology surgery. With over 60% market share, Zeiss is the clear leader in the microsurgery space.

Carl Zeiss Meditec AG (XTER:AFX) Headlines

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