On Wednesday, ResMed got an upgrade for its IBD SmartSelect Composite Rating from 94 to 96.
The new rating is a sign the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria.
ResMed is currently forming a flat base, with a 260.49 buy point. See if the stock can break out in volume at least 40% higher than normal.
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The stock earns a 96 EPS Rating, meaning its recent quarterly and longer-term annual earnings growth is outpacing 96% of all stocks.
Its Accumulation/Distribution Rating of C shows a roughly equal amount of buying and selling by institutional investors over the last 13 weeks.
In Q1, the company posted 34% EPS growth. That means it's now posted five straight quarters of rising EPS gains. Revenue growth climbed 11%, up from 9% in the prior quarter. The company has now posted rising growth in each of the last two quarters. The company's next quarterly report is expected on or around Jan. 23.
ResMed holds the No. 5 rank among its peers in the Medical-Products industry group. Globus Medical is the top-ranked stock within the group.
