Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at ResMed (NYSE: RMD) and its peers.

Patient monitoring companies within the healthcare equipment industry offer devices and technologies that track chronic conditions and support real-time health management, such as continuous glucose monitors (CGMs) and sleep apnea machines. These businesses benefit from recurring revenue from consumables and software subscriptions tied to device sales (razor, razor blade model). The rising prevalence of chronic diseases like diabetes and respiratory disorders due to an aging population as well as growing adoption of digitization are good for the industry. However, these companies face challenges from high R&D costs and reliance on regulatory approvals. Looking ahead, the sector is positioned for growth due to tailwinds like the rising burden of chronic diseases from an aging population, the shift toward value-based care, and increased adoption of digital health solutions. Innovations in AI and machine learning are expected to enhance device accuracy and functionality, improving patient outcomes and driving demand. However, there are headwinds such as pricing pressures as healthcare costs are a key focus, especially in the US. An evolving regulatory landscape and competition from more tech-forward new entrants could present additional challenges.

The 5 patient monitoring stocks we track reported a very strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.4% while next quarter’s revenue guidance was in line.

While some patient monitoring stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 4.9% since the latest earnings results.

Weakest Q3: ResMed (NYSE: RMD)

Founded in 1989 to address the then-underdiagnosed condition of sleep apnea, ResMed (NYSE: RMD) develops cloud-connected medical devices and software solutions that treat sleep apnea, COPD, and other respiratory disorders for home and clinical use.

ResMed reported revenues of $1.34 billion, up 9.1% year on year. This print was in line with analysts’ expectations, but overall, it was a mixed quarter for the company with a beat of analysts’ EPS estimates but constant currency revenue in line with analysts’ estimates.

“Our fiscal year 2026 is off to a strong start, with first-quarter performance reflecting continued progress toward our mission of helping people sleep better, breathe better and live longer and healthier, with care provided in their own home,” said Resmed’s Chairman and CEO, Mick Farrell.

ResMed delivered the weakest performance against analyst estimates of the whole group. Interestingly, the stock is up 2.8% since reporting and currently trades at $259.28.

Is now the time to buy ResMed? Access our full analysis of the earnings results here, it’s free.

Best Q3: iRhythm (NASDAQ: IRTC)

Pioneering the shift from bulky, short-term heart monitors to sleek, wire-free patches, iRhythm Technologies (NASDAQ: IRTC) provides wearable cardiac monitoring devices and AI-powered analysis services that help physicians detect and diagnose heart rhythm disorders.

iRhythm reported revenues of $192.9 million, up 30.7% year on year, outperforming analysts’ expectations by 4.6%. The business had an exceptional quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ revenue estimates.

iRhythm scored the biggest analyst estimates beat and fastest revenue growth among its peers. Although it had a fine quarter compared its peers, the market seems unhappy with the results as the stock is down 11.6% since reporting. It currently trades at $162.72.

Is now the time to buy iRhythm? Access our full analysis of the earnings results here, it’s free.

DexCom (NASDAQ: DXCM)

Founded in 1999 and receiving its first FDA approval in 2006, DexCom (NASDAQ: DXCM) develops and sells continuous glucose monitoring systems that allow people with diabetes to track their blood sugar levels without repeated finger pricks.

DexCom reported revenues of $1.21 billion, up 21.6% year on year, exceeding analysts’ expectations by 2.5%. It may have had the worst quarter among its peers, but its results were still good as it also locked in a solid beat of analysts’ revenue estimates and a narrow beat of analysts’ organic revenue estimates.

Interestingly, the stock is up 1.4% since the results and currently trades at $68.97.

Read our full analysis of DexCom’s results here.

Masimo (NASDAQ: MASI)

Founded in 1989 to solve the "unsolvable problem" of accurate pulse oximetry during patient movement, Masimo (NASDAQ: MASI) develops and manufactures noninvasive patient monitoring technologies, including its breakthrough pulse oximetry systems that accurately measure blood oxygen levels even during patient movement.

Masimo reported revenues of $371.2 million, up 8.1% year on year. This result surpassed analysts’ expectations by 1.3%. Overall, it was a strong quarter as it also produced an impressive beat of analysts’ full-year EPS guidance estimates and full-year operating income guidance beating analysts’ expectations.

Masimo delivered the highest full-year guidance raise but had the slowest revenue growth among its peers. The stock is down 6.9% since reporting and currently trades at $138.67.

Read our full, actionable report on Masimo here, it’s free.

Insulet (NASDAQ: PODD)

Revolutionizing diabetes care with its tubeless "Pod" technology, Insulet (NASDAQ: PODD) develops and manufactures innovative insulin delivery systems for people with diabetes, primarily through its Omnipod product line.

Insulet reported revenues of $706.3 million, up 29.9% year on year. This number beat analysts’ expectations by 3.9%. It was an exceptional quarter as it also put up an impressive beat of analysts’ constant currency revenue estimates and revenue guidance for next quarter exceeding analysts’ expectations.

The stock is down 10% since reporting and currently trades at $283.04.

Read our full, actionable report on Insulet here, it’s free.

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