ResMed Inc. ( RMD ) was a big mover last session with its shares rising just over 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company as the stock is now trading above the past one month's volatile price range of $46.25 to $51.33.
This manufacturer of medical equipment for the diagnosis, treatment and management of respiratory disorders has seen two negative estimate revisions in the last 7 days. The Zacks Consensus Estimate has also moved lower over the same period. This implies trouble down the road. So make sure to keep an eye on this stock going forward to see if Friday's rally can last.
ResMed currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Some better-ranked stocks worth considering in the medical products industry are ZELTIQ Aesthetics, Inc. ( ZLTQ ), ICU Medical, Inc. ( ICUI ) and Abaxis, Inc. ( ABAX ). While ZELTIQ sports a Zacks Rank #1 (Strong Buy), ICU Medical and Abaxis carry a Zacks Rank #2 (Buy).
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