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Nov 10, 2023

Wearables Industry Stocks ( $MDT, $SYNA, $GRMN...) Post an Average Gain of 7.1% in the Last Week

The wearables industry, which encompasses both technology and medical wearable devices, has seen a significant uptick in stock performance over the past week. Companies within this diverse sector offer a wide range of products, from fitness trackers to medical devices, and even entertainment-oriented wearables like headphones. The unique blend of products makes it challenging to categorize them into a single sector or risk classification. However, this diversity may also offer some resilience to economic fluctuations, with health-oriented companies potentially being less susceptible to swings in the economy compared to producers of entertainment-oriented devices.

🌐Tickers in Industry - $MDT, $SYNA, $GRMN, $QCOM, $DXCM, $SWKS, $VHC, $AMBA, $OLED, $NXPI, $QRVO, $SENS, $EKSO, $ZEPP

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Theme and Group of Tickers:

The wearables theme comprises companies like FitBit, Medtronic, and Garmin, each offering distinct wearable products. FitBit allows wearers to track their pulse, steps, and calories burned, while Medtronic manufactures pacemakers and defibrillators, focusing on medical applications. Garmin produces wearable watches that provide navigation and Global Positioning System (GPS) information, emphasizing a technology-oriented approach. Additionally, there are companies in the hearing and listening category, such as headphone manufacturers. This theme represents a fusion of health, technology, and entertainment, making it unique and versatile.

Notable Companies:

Some of the most notable companies in this wearables theme include QUALCOMM (NASDAQ: QCOM), Medtronic plc (NYSE: MDT), NXP Semiconductors NV (NASDAQ: NXPI), Skyworks Solutions (NASDAQ: SWKS), Universal Display Corp (NASDAQ: OLED), Synaptics (NASDAQ: SYNA), and Ambarella (NASDAQ: AMBA).

Market Cap:

The average market capitalization across the wearables theme stands at approximately $25.1 billion. Notably, QCOM holds the highest valuation within this group, with a market capitalization of $134.4 billion, while the lowest-valued company is EKSO at $19.4 million.

High and Low Price Notable News: In the last week, the average weekly price growth across all stocks in the wearables theme was an impressive 6.58%. Over the same period, the average monthly price growth reached 5.19%, while the average quarterly price growth was -7.11%. Among the notable price movements, VHC experienced the highest weekly price growth at 106.52%, while DXCM saw the biggest fall at -1.46%.

Volume:

Regarding trading volume, the wearables theme exhibited some interesting trends. The average weekly volume growth across all stocks in the theme was -20.99%, potentially indicating a decrease in short-term trading activity. However, over the monthly and quarterly periods, average volume growth was positive, with values of 41.41% and 34.06%, respectively. These figures suggest that there may be more sustained interest in these stocks over longer time frames.

The wearables industry stocks have demonstrated a strong performance in the past week, with an average gain of 7.1%. The diversity within the wearables theme, ranging from health-focused companies to technology and entertainment-oriented ones, offers a unique investment landscape. Investors may find opportunities in this dynamic sector, with some companies showing notable price growth and potential for long-term value.

MDT : MDT's Relative Strength Index (RSI) indicator made a notable recovery from oversold conditions on October 31, 2023. This development suggests a potential shift in the stock's trajectory from a downward trend to an upward one. As a result, traders may consider opportunities such as purchasing the stock or call options. An analysis by the A.I.dvisor reviewed 21 similar instances when the RSI indicator exited oversold territory, revealing that in 15 of those cases, the stock experienced upward movement. This statistical insight implies a 71% likelihood of a positive price movement, offering investors a compelling reason to monitor MDT's performance closely.

SYNA : SYNA's Moving Average Convergence Divergence (MACD) Histogram has recently shifted into positive territory, marking a significant development on November 07, 2023. Historical analysis of similar instances where SYNA's MACD turned positive reveals a compelling pattern: in 34 out of 40 cases, the stock continued to ascend in the subsequent month. This statistical insight implies a substantial 85% probability of a continued upward trend, making SYNA an enticing prospect for investors to closely monitor in the coming weeks.

GRMN : GRMN has recently exhibited a promising shift in its price trajectory as it surpassed its 50-day Moving Average on November 01, 2023. This transition signifies a pivot from a previous downward trend to a potentially bullish upward trend. Historical analysis of comparable scenarios reveals that in 27 out of 41 instances, the stock price extended its gains in the subsequent month. This statistical observation suggests a favorable 66% probability of the upward trend persisting, making GRMN an appealing candidate for investors to closely monitor in the upcoming period.

Related Ticker: MDT, SYNA, GRMN, QCOM, DXCM, SWKS, VHC, AMBA, OLED, NXPI, QRVO, SENS, EKSO, ZEPP

Momentum Indicator for MDT turns positive, indicating new upward trend

MDT saw its Momentum Indicator move above the 0 level on March 27, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 90 similar instances where the indicator turned positive. In of the 90 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for MDT just turned positive on March 27, 2024. Looking at past instances where MDT's MACD turned positive, the stock continued to rise in of 52 cases over the following month. The odds of a continued upward trend are .

MDT moved above its 50-day moving average on March 27, 2024 date and that indicates a change from a downward trend to an upward trend.

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where MDT advanced for three days, in of 331 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 283 cases where MDT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The RSI Indicator has been in the overbought zone for 2 days. Expect a price pull-back in the near future.

The Stochastic Oscillator has been in the overbought zone for 1 day. Expect a price pull-back in the near future.

The 10-day moving average for MDT crossed bearishly below the 50-day moving average on February 26, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 13 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .

Following a 3-day decline, the stock is projected to fall further. Considering past instances where MDT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

MDT broke above its upper Bollinger Band on March 27, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.231) is normal, around the industry mean (25.596). P/E Ratio (27.625) is within average values for comparable stocks, (79.752). Projected Growth (PEG Ratio) (1.648) is also within normal values, averaging (5.753). Dividend Yield (0.032) settles around the average of (0.019) among similar stocks. P/S Ratio (3.588) is also within normal values, averaging (43.236).

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating outstanding price growth. MDT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to consistent earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating slightly better than average sales and a considerably profitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. MDT’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 86, placing this stock better than average.

Notable companies

The most notable companies in this group are Abbott Laboratories (NYSE:ABT), Intuitive Surgical (NASDAQ:ISRG), Medtronic plc (NYSE:MDT), Boston Scientific Corp (NYSE:BSX), Edwards Lifesciences Corp (NYSE:EW), IQVIA Holdings (NYSE:IQV), Align Technology (NASDAQ:ALGN), Illumina (NASDAQ:ILMN), Exact Sciences Corp (NASDAQ:EXAS), Guardant Health (NASDAQ:GH).

Industry description

Medical specialties are companies that make equipment used by the health care industry. Equipment manufactured and distributed by these companies include dialysis machines, blood analysis equipment, surgical equipment, dental instruments, and diagnostic tools, among other items. Large companies typically aim to produce and distribute high-quality products across a broad market spectrum. Smaller firms are more likely to specialize in a particular market segment. Due to the industry’s close association with medical treatments, they typically have low sensitivity to macroeconomic fluctuations. Within this industry, Abbott Laboratories, Medtronic Plc and Thermo Fisher Scientific Inc. are some of the companies with multi-billion market capitalizations in the U.S. stock markets.

Market Cap

The average market capitalization across the Medical Specialties Industry is 7.24B. The market cap for tickers in the group ranges from 27 to 3.82T. MKYSF holds the highest valuation in this group at 3.82T. The lowest valued company is FOGCF at 27.

High and low price notable news

The average weekly price growth across all stocks in the Medical Specialties Industry was 1%. For the same Industry, the average monthly price growth was -2%, and the average quarterly price growth was 6%. NXL experienced the highest price growth at 280%, while SEQL experienced the biggest fall at -56%.

Volume

The average weekly volume growth across all stocks in the Medical Specialties Industry was -24%. For the same stocks of the Industry, the average monthly volume growth was -25% and the average quarterly volume growth was -10%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 50
P/E Growth Rating: 72
Price Growth Rating: 55
SMR Rating: 84
Profit Risk Rating: 85
Seasonality Score: -7 (-100 ... +100)
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General Information

a provider of wireless communication systems

Industry Semiconductors

Profile
Fundamentals
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Industry
Telecommunications Equipment
Address
5775 Morehouse Drive
Phone
+1 858 587-1121
Employees
50000
Web
https://www.qualcomm.com