On Thursday, TransMedics Group reached a noteworthy performance benchmark, with its Relative Strength (RS) Rating climbing into the 80-plus percentile with an improvement to 84, up from 78 the day before.
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This proprietary rating measures technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks matches up against the rest of the market.
Over 100 years of market history reveals that the top-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.
TransMedics Group is now considered extended and out of buy range after clearing a 92.63 buy point in a first-stage cup without handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
While revenue growth fell last quarter from 48% to 38%, earnings-per-share grew 163%, up from 100% in the previous report.
TransMedics Group earns the No. 9 rank among its peers in the Medical-Products industry group. Insulet, DexCom and ResMed are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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