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

Core Insights - ResMed, Inc. is a leading designer, manufacturer, and distributor in the global market for generators, masks, and related accessories for the treatment of sleep-disordered breathing (SDB) and other respiratory disorders [12] - The company has received a 1 (Strong Buy) rating on the Zacks Rank, indicating strong potential for performance [23] - Recent earnings estimates for fiscal 2024 have been revised upwards by five analysts, with the Zacks Consensus Estimate increasing by $0.24 to$7.70 per share, reflecting a positive outlook [13] Zacks Rank and Style Scores - The Zacks Rank utilizes earnings estimate revisions to help investors build successful portfolios, with a focus on stocks rated 1 (Strong Buy) or 2 (Buy) [4][18] - ResMed has a Momentum Style Score of B, with shares increasing by 0.2% over the past four weeks, indicating positive momentum [20] - The VGM Score, which combines Value, Growth, and Momentum Style Scores, rates ResMed as B, further supporting its attractiveness as an investment [26] Investment Strategy - Investors are encouraged to focus on stocks with a Zacks Rank of 1 or 2 and Style Scores of A or B to maximize upside potential [18][19] - The Style Scores categorize stocks based on investing styles, helping investors identify securities with the highest chances of outperforming the market [8][22]