Published on 1 Apr 2024 on Zacks via Yahoo Finance
Here's Why Investors Should Buy ResMed (RMD) Stock Now
ResMed Inc. RMD is gaining from the global supply of its cloud-connected platforms, AirSense10 and AirSense11. The strong uptake of the myAir app with Air 11 is likely to drive higher adherence to therapy in patients. However, escalating debt levels and competitive landscape are a concern.
In the past six months, this Zacks Rank #2 (Buy) stock has gained 36.7% compared with a 16.1% rise of the industry and a 23% increase of the S&P 500 composite.
The renowned medical device company has a market capitalization of $29.13 billion. The company’s earnings surpassed estimates in three of the trailing four quarters and missed in another. It has an average earnings surprise of 1.83%.