Medical Equipment Stock to Add to Your Portfolio

Plus, 24 stocks that could be a good bet for bulls this month

Digital Content Manager
Jun 6, 2023 at 2:56 PM
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Medical equipment name ResMed Inc (NYSE:RMD) is looking to snap a four-day win streak, down 0.3% at $221.33 at last glance. The stock is grappling with its 20-day moving average, but still sports a 6.3% year-to-date lead. Now could be the perfect time to weigh in on RMD, too, as it landed on Schaeffer's Senior Quantitative Analyst Rocky White's list of best S&P 500 Index (SPX) stocks to own this month. 

RMD 20 Day

Per White's data, RMD finished higher in eight of the past 10 years, bringing its average  one-month return for June to of 5.7%. From its current perch, a move of similar magnitude could put RMD near levels not seen since mid-May.

 Best of June

Short-term options traders have been much more bearish than usual, per the security's Schaeffer's put/call open interest ratio (SOIR), which sits higher than just 2% of readings from the past 12 months.

Those looking to speculate with options are in luck. ResMed stock is seeing attractively priced premiums at the moment, per its Schaeffer's Volatility Index (SVI) of 22%, which sits in the low 4th percentile of its annual range.

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