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Here's Why ResMed (RMD) is a Strong Growth 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.

Achieving those goals is made easier with the Zacks Style Scores, a unique set of guidelines that rates stocks based on popular investing methodologies, namely value, growth, and momentum. The Style Scores can help you narrow down which stocks are better for your portfolio and which ones can beat the market over the long-term.

Why This 1 Growth Stock Should Be On Your Watchlist

Different than value or momentum investors, growth-oriented investors are concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, they'll want to focus on the Growth Style Score, which analyzes characteristics like projected and historical earnings, sales, and cash flow to find stocks that will see sustainable growth over time.

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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 is a Zacks Rank #3 (Hold) stock, with a Growth Style Score of A and VGM Score of B. Earnings are expected to grow 19.6% year-over-year for the current fiscal year, with sales growth of 10.5%.

One analyst revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0 to $7.70 per share. RMD also boasts an average earnings surprise of 2.8%.

Looking at cash flow, ResMed is expected to report cash flow growth of 9.8% this year; RMD has generated cash flow growth of 12.8% over the past three to five years.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, RMD should be on investors' short lists.

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ResMed Inc. (RMD) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research