Fortive Corp hits 20-day low amid sector rotation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 26 2024
0mins
Should l Buy FTV?
Source: SeekingAlpha
Fortive Corp's stock price fell by 4.15%, hitting a 20-day low. This decline occurs in the context of a broader market where the Nasdaq-100 is up 0.73% and the S&P 500 is up 0.58%.
The drop in Fortive's stock is attributed to sector rotation, as investors are shifting their focus away from industrials, despite the overall market strength. This suggests that the stock's performance is not aligned with the positive trends seen in the broader indices.
As the market continues to show strength, Fortive's decline may indicate a reevaluation of its position within the sector, prompting investors to consider other opportunities that are currently gaining traction.
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Analyst Views on FTV
Wall Street analysts forecast FTV stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for FTV is 56.73 USD with a low forecast of 51.00 USD and a high forecast of 66.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
11 Analyst Rating
2 Buy
8 Hold
1 Sell
Hold
Current: 60.200
Low
51.00
Averages
56.73
High
66.00
Current: 60.200
Low
51.00
Averages
56.73
High
66.00
About FTV
Fortive Corporation is a technology solutions company. The Company's businesses design, develop, manufacture, and market products, software, and services, building on brand names, technologies, and market positions. The Company's segments include Intelligent Operating Solutions (IOS) and Advanced Healthcare Solutions (AHS). The Company's IOS segment provides advanced instrumentation, software and services to various customers enabling their mission-critical workflows. These offerings include electrical test and measurement, facility and asset lifecycle software applications, connected worker safety and compliance solutions across a range of vertical end markets. Its AHS segment supplies critical workflow solutions enabling healthcare providers to deliver patient care more efficiently. Its offerings include instrument sterilization solutions, instrument tracking, biomedical test tools, radiation detection and safety monitoring and end-to-end clinical productivity software and solutions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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