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Here's Why ResMed (RMD) is a Strong Momentum Stock

Zacks Equity Research
·2-min read

It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors.

While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.

Is This 1 Momentum Stock a Screaming Buy Right Now?

For momentum investors, upward or downward trends in a stock's price or earnings outlook take precedent, so they'll want to zero in on the Momentum Style Score. This Score can pinpoint good times to build a position in a stock, using factors like one-week price change and the monthly percentage change in earnings estimates.

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ResMed (RMD)

ResMed, Inc. holds a major position as designer, manufacturer, as well as a distributor in the worldwide market for generators, masks, and related accessories for the treatment of sleep-disordered breathing (SDB) and other respiratory disorders. SDB includes obstructive sleep apnea (OSA) and other respiratory disorders that occur during sleep.

RMD sits at a Zacks Rank #1 (Strong Buy), holds a Momentum Style Score of B, and has a VGM Score of B. The stock is up 3.5% and up 0.2% over the past one-week and four-week period, respectively, and ResMed has lost 0.7% in the last one-year period as well. Additionally, an average of 785,245.94 shares were traded over the last 20 trading sessions.

A company's earnings performance is important for momentum investors as well. For fiscal 2024, five analysts revised their earnings estimate higher in the last 60 days for RMD, while the Zacks Consensus Estimate has increased $0.24 to $7.70 per share. RMD also boasts an average earnings surprise of 2.8%.

With strong earnings growth, a good Zacks Rank, and top-tier Momentum and VGM Style Scores, investors should think about adding RMD to their portfolios.

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ResMed Inc. (RMD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research