Here's Why ResMed (RMD) is a Strong Growth Stock
Taking full advantage of the stock market and investing with confidence are common goals for new and old investors alike.
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.
Why This 1 Growth Stock Should Be On Your Watchlist
For growth investors, a company's financial strength, overall health, and future outlook take precedence, so they'll want to zero in on the Growth Style Score. This Score examines things like projected and historical earnings, sales, and cash flow to find stocks that will generate sustainable growth over time.
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 boasts a Growth Style Score of B and VGM Score of A, and holds a Zacks Rank #2 (Buy) rating. Its bottom-line is projected to rise 14.9% year-over-year for 2024, while Wall Street anticipates its top line to improve by 10.3%.
Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0.08 to $7.40 per share. RMD also boasts an average earnings surprise of 2.8%.
ResMed is also cash rich. The company has generated cash flow growth of 12.8%, and is expected to report cash flow expansion of 9.8% in 2024.
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
