ResMed saw its IBD SmartSelect Composite Rating rise to 96 Monday, up from 94 the day before.
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The new rating is a sign the stock is outpacing 96% of all stocks when it comes to the most important stock-picking criteria. The best stocks tend to have a 95 or better grade as they kick off a significant move so be sure to keep that in mind when looking for the best stocks to buy and watch.
ResMed is currently forming a cup without handle, with a 263.05 buy point. See if the stock can break out in volume at least 40% above average.
The stock has a 91 EPS Rating, meaning its recent quarterly and annual earnings growth tops 91% of all stocks.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
In Q3, the company posted 11% earnings-per-share growth. Top line growth came in at 8%, down from 10% in the prior quarter.
ResMed earns the No. 4 rank among its peers in the Medical-Products industry group. Penumbra is the top-ranked stock within the group.
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