Heska Stock Story

HSKA

Stock

USD 89.77 1.05 1.16%

Macroaxis Story

While some of us are excited about healthcare space, we will evaluate how strong are Heska Corp and ABAXIS INC fundamentals. We are going to analyze some of the competitive aspects of both Heska and ABAXIS.

Published over three months ago

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Will Heska Corp (NASDAQ:HSKA) investors shift to ABAXIS (NASDAQ:ABAX)?

By analyzing existing forward-looking signals between Heska Corp and ABAXIS, 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 ABAXIS 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 231.26 percent. This suggests that the company is making $2.31 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.

Will Heska Corp (NASDAQ:HSKA) investors shift to ABAXIS (NASDAQ:ABAX)?

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 companies, such as Heska or Canoo is a better fit for your portfolio, analyzing a few basic fundamental indicators is a good first step.

How important is Heska Corp's Liquidity

Heska Corp financial leverage refers to using borrowed capital as a funding source to finance Heska Corp ongoing operations. It is usually used to expand the firm's asset base and generate returns on borrowed capital. Heska Corp 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. Please check the breakdown between Heska Corp's total debt and its cash.

Correlation Between Heska and Canoo Inc

In general, 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 Corp together with similar or unrelated positions with a negative correlation. For example, you can also add Canoo to your portfolio. If Canoo is not perfectly correlated to Heska Corp 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 Corp for example, for example, performs excellent and delivers stable returns, the negatively correlated position you locked in as a hedge may drag your returns down.

Please check pair correlation details between HSKA and GOEV for more information.

Acquisition by Sveen Christopher D of 750 shares of Heska Corp subject to Rule 16b-3

Legal trades by Heska Corp insiders are very common, as founders, directors, or employees of any publicly traded firm often have stock or stock options. These trades are made public in the United States through the filing of Form 4 of the Securities and Exchange Commission. Below entry was recorded recently and is publicly available as an insider trade:

Heska insider trading alert for grant of common stock by Sveen Christopher D, CAO & General Counsel, on 14th of July 2022. This event was filed by Heska Corp with SEC on 2021-09-28. Statement of changes in beneficial ownership - SEC Form 4 [view details]

Note, although insider trading is legal, in the United States, Canada, Australia, and Germany, for mandatory reporting purposes, corporate insiders are defined as a company's officers, directors, and any beneficial owners of more than 10% of a class of the company's equity securities.

Time to exit Heska Corp is now

Current treynor ratio is at -0.33.

As of the 8th of May, Heska Corp retains the risk adjusted performance of (0.15), and Market Risk Adjusted Performance of (0.32). 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 100.84 per share. Given that Heska Corp has jensen alpha of (0.25), we strongly advise you to confirm Heska Corp's regular market performance to make sure the company can sustain itself at a future point.

Our Final Takeaway

Whereas some companies in the medical devices industry are either recovering or due for a correction, Heska Corp may not be performing as strong as the other in terms of long-term growth potentials. While some investors may not share our view we believe that the current risk-reward utility is not appealing enough to do any trading. Please use our equity advice module to run different scenarios to ensure your current risk level and investment horizon are fully reflective of your current investing preferences in regards to Heska Corp.

Editorial Staff

Gabriel Shpitalnik is a Member of Macroaxis Editorial Board. Gabriel is a young entrepreneur and writes predominantly on the business, technology, and finance sector. He likes to analyze different equity instruments across a wide range of industries focusing primarily on consumer products and evolving technologies. 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 Gabriel Shpitalnik do not own shares of Heska Corp. Please refer to our Terms of Use for any information regarding our disclosure principles.

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