Resmed Incorporated (ASX:RMD) reported "solid results" for the fiscal second quarter, driven by strong device sales in the US, Jarden Research said in a Jan.31 note.

Revenue for the period reached $1.282 billion, a 10.3% year-on-year increase, though it was 0.3% below Jarden's estimate of $1.285 billion and 1% but ahead of consensus at $1.27 million, Jarden said.

Net profit after tax came in at $358.3 million, up 29.2% year-on-year, 0.3% below Jarden's estimate of $359.5 million, but 4.4% above consensus of $343.3 million, Jarden added.

Jarden sees further improvement in the company's gross margin in the second half of the fiscal.

The broker also expects the $2 million foreign exchange impact to turn neutral in the third quarter of the fiscal.

While the company's freight has stabilized, it is too early to determine if they could provide any upside, the broker said.

Jarden Research has an overweight rating and a price target of AU$36.60 on Resmed Incorporated.