The Scientific and Technical Instruments manufacturing giant is sitting at amost $ 58 Bln market cap, with their share price reaching an all time high $540.58. Shareholders must be extremely happy with the recent rally the shares saw.
Starting from late October, early Novermber ROP jumped with nearly $70, following a better than expected earnings report. A solid resistance level was formed around the $500 level, but buyers were in total control and lifted the shares with more than $40 above this resistance level! The technical set up and the fundamental figures of the firm also suggest a potential extention of this clear up trend.
The 20, 50 and 200 day moving averages are all pointing north and the current price per share is above the shortest MA. Historically this has served as an indication for a strong bullish momentum. In addition to that, the company is enjoying a healthy Operating Margin of 25.72% and a P/E of 19.6. Those readings are better than many of ROP’s direct industry competitors, such as Thermo Fischer Scientifc for example! This is one more reason why investors would buy more ROP shares in particular!
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