Envista Holdings saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 67 to 72.
IBD's unique RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price action over the trailing 52 weeks matched up against all other stocks.
Over 100 years of market history shows that the market's biggest winners tend to have an 80 or better RS Rating as they launch their biggest runs. See if Envista Holdings can continue to show renewed price strength and hit that benchmark.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to form a chart pattern and break out.
Earnings growth rose last quarter from -74% to -72%, but revenue fell from -4% to -5%.
Envista Holdings holds the No. 31 rank among its peers in the Medical-Systems/Equipment industry group. Intuitive Surgical, Brainsway ADR and Electromed are among the top 5 highly rated stocks within the group.
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