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

Core Insights - The article emphasizes the importance of utilizing Zacks Premium to enhance investment confidence and market engagement for all investors, regardless of age or experience [1][2] Zacks Style Scores - Zacks Style Scores are designed to assist investors in selecting stocks with the highest potential to outperform the market within a 30-day timeframe, using an alphabetic rating system from A to F based on value, growth, and momentum characteristics [3][4][5][6][7] Value Score - The Value Style Score focuses on identifying undervalued stocks by analyzing financial ratios such as P/E, PEG, Price/Sales, and Price/Cash Flow [4] Growth Score - The Growth Style Score evaluates a company's future growth potential by examining projected and historical earnings, sales, and cash flow [5] Momentum Score - The Momentum Style Score identifies optimal entry points for stocks based on price trends and earnings estimate changes [6] VGM Score - The VGM Score combines the three Style Scores to provide a comprehensive assessment of stocks, highlighting those with attractive value, strong growth forecasts, and positive momentum [7] Zacks Rank - The Zacks Rank is a proprietary model that leverages earnings estimate revisions to guide investors in building successful portfolios, with 1 (Strong Buy) stocks achieving an average annual return of +25.41% since 1988, significantly outperforming the S&P 500 [8][9] Stock Recommendation: ResMed, Inc. (RMD) - ResMed, Inc. is recognized as a key player in the market for sleep-disordered breathing and respiratory disorder treatments, holding a 3 (Hold) Zacks Rank and a VGM Score of B [12][15] - The company has a Growth Style Score of A, with a projected year-over-year earnings growth of 19.6% for the current fiscal year, making it a strong candidate for growth investors [13][14] - Recent earnings estimates for fiscal 2024 have been revised upward, with the Zacks Consensus Estimate now at $7.70 per share, and an average earnings surprise of 2.8% [16]