.August 28, 2024 06:18:53 AM

ResMed (NYSE:RMD) has been identified as a top growth stock by Zacks Investment Research, thanks to its focus on developing medical devices and software for respiratory disorders in the healthcare sector.

In the most recent quarter, ResMed reported a strong net cash provided by operating activities of approximately $440.11 million, showcasing its financial health and operational efficiency.

Despite significant cash outflows for investing and financing activities, including a $300 million debt repayment, ResMed demonstrated impressive financial management with strategic investments for future growth.

ResMed’s ability to generate a free cash flow of around $413.79 million highlights its profitability and capacity for growth without external funding, a positive sign for investors.

With a positive change in working capital and a slight increase in cash position, ResMed’s financial stability and efficiency are further emphasized, solidifying its position as a top growth stock with potential for value and momentum investors.