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Why ResMed (RMD) is a Top Momentum Stock for the Long-Term

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.

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 boasts a Momentum Style Score of A and VGM Score of A, and holds a Zacks Rank #3 (Hold) rating. Shares of ResMed has seen some interesting price action recently; the stock is up 20.4% over the past one week and up 14.7% over the past four weeks. And in the last one-year period, RMD has lost 7.4%. As for the stock's trading volume, 1,301,126 shares on average were traded over the last 20 days.

Momentum investors don't just pay attention to price changes; positive earnings play a crucial role, too. Four analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.14 to $7.57 per share. RMD boasts an average earnings surprise of 2.8%.

RMD should be on investors' short list because of its impressive earnings fundamentals, a good Zacks Rank, and strong Momentum and VGM Style Scores.

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ResMed Inc. (RMD) : Free Stock Analysis Report

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Zacks Investment Research