By analyzing existing forward-looking signals between Heska Corp and Guardant, you can compare the effects of market volatilities on both companies' prices and check if they can diversify away market risk if combined in one of your portfolios. You can also utilize pair trading strategies for matching a long position in Guardant with a short position in Heska Corp. Check out our
pair correlation module for more information.
Let's begin by analyzing the assets.
The asset utilization indicator refers to the revenue earned for every dollar of assets a company currently reports. Heska Corp has an asset utilization ratio of 207.05 percent. This suggests that the company is making $2.07 for each dollar of assets. An increasing asset utilization means that Heska Corp is more efficient with each dollar of assets it utilizes for everyday operations.
Out of tens of thousands of stocks, funds, and ETFs that trade on global exchanges each represent an individual company which you can analyze using comparative analysis. To determine which one of the two entities, such as Heska or Orthofix is a better fit for your portfolio, analyzing a few basic fundamental indicators is a good first step.
How important is Heska's Liquidity
Heska
financial leverage refers to using borrowed capital as a funding source to finance Heska ongoing operations. It is usually used to expand the firm's asset base and generate returns on borrowed capital. Heska financial leverage is typically calculated by taking the company's all interest-bearing debt and dividing it by total capital. So the higher the debt-to-capital ratio (i.e., financial leverage), the riskier the company. Financial leverage can amplify the potential profits to Heska's owners, but it also increases the potential losses and risk of financial distress, including bankruptcy, if the firm cannot cover its debt costs. The degree of Heska's financial leverage can be measured in several ways, including by ratios such as the debt-to-equity ratio (total debt / total equity), equity multiplier (total assets / total equity), or the debt ratio (total debt / total assets). Please check the
breakdown between Heska's total debt and its cash.
Correlation Between Heska and Orthofix Medical
In general, Delisted Stock analysis is a method for investors and traders to make individual buying and selling decisions. Stock correlation analysis is also essential because it can help investors realize that they may not be as diversified as they think. Risk management strategies are usually required to make sure all portfolios are properly aligned against their risk tolerance level. You can consider holding Heska together with similar or unrelated positions with a negative correlation. For example, you can also add Orthofix Medical to your portfolio. If Orthofix Medical is not perfectly correlated to Heska it will diversify some of the market risks out of the positively correlated stocks in your portfolio. However, the disadvantage of this sort of hedging is that it can potentially affect your investment returns throughout market cycles. When Heska, for example, performs excellent and delivers stable returns, the negatively correlated position you locked in as a hedge may drag your returns down.
Are you currently holding both Heska and Orthofix Medical in your portfolio? Please note if you are using this as a pair-trade strategy between Heska and Orthofix Medical, watch out for correlation discrepancy over time. Relying on the historical price correlations and assuming that it will not change may lead to short-term losses. Please check
pair correlation details between HSKA and OFIX for more information.
A Deeper Perspective On Heska
Revenue is income that a firm generates from business activities such us rendering services or selling goods to customers. It is a crucial part of a business and an essential item when evaluating a company's financial statements. Revenues from a firm's primary business operations can be reported on the income statement as sales revenue, net sales, or simply sales, depending on the industry in which a given company operates.
Revenue is typically recorded when cash or cash equivalents are exchanged for services or goods and can include product or services discounts, promotions, as well as early payments on invoices or services rendered in advance.
Revenue Breakdown
Let me now go over Heska Corp revenue. Based on the latest financial disclosure, Heska Corp reported 227.17
M of revenue. This is 97.02% lower than that of the Healthcare sector and 88.54% lower than that of the
Diagnostics & Research industry. The revenue for all United States stocks is 97.59% higher than that of Heska Corp. As for Guardant Health we see revenue of 297.88
M, which is 84.97% lower than that of the Diagnostics & Research
| HSKA | 227.17 Million | 9.06 |
| Sector | 1.98 Billion | 79.05 |
| GH | 297.88 Million | 11.88 |
Will Heska pull back in September 2021?
Current standard deviation is at 2.58.
As of the 3rd of August, Heska Corp retains the Market Risk Adjusted Performance of 0.5651,
risk adjusted performance of 0.1548, and Downside Deviation of 2.28. Heska Corp
technical analysis makes it possible for you to employ
historical prices and volume momentum with the intention to determine a pattern that calculates the direction of the firm's future prices. Simply put, you can use this information to find out if the firm will indeed mirror its model of historical price patterns, or the prices will eventually revert. We were able to collect data for nineteen
technical drivers for Heska Corp, which can be compared to its competitors. Please check out
Heska Corp treynor ratio, as well as the
relationship between the potential upside and
expected short fall to decide if Heska Corp is priced fairly, providing market reflects its last-minute price of 254.26 per share. Given that Heska Corp has
jensen alpha of 0.4845, we strongly advise you to confirm Heska Corp's regular market performance to make sure the company can sustain itself at a future point.
Whereas few other entities under the diagnostics & research industry are still a bit expensive, Heska Corp may offer a potential longer-term growth to investors. On the whole, as of the 3rd of August 2021, we see that Heska Corp almost mirrors the market. The company is
undervalued with
very small probability of distress within the next 24 months. Our latest 90 days buy-or-sell advice on the company is
Strong Buy.
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Rifka Kats is a Member of Macroaxis Editorial Board. Rifka writes about retail product and service companies from the perspective of a regular consumer and sophisticated investor at the same time. She is passionate about corporate ethics and equality in the workforce.
View Profile This story should be regarded as informational only and should not be considered a solicitation to sell or buy any financial products. Macroaxis does not express any opinion as to the present or future value of any investments referred to in this post. This post may not be reproduced without the consent of Macroaxis LLC. Macroaxis LLC and Rifka Kats do not own shares of Heska. Please refer to our
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