ResMed Inc. (RMD) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
ResMed Inc. (RMD), headquartered in San Diego, California, is a leading entity in the healthcare sector, focusing primarily on the Medical Instruments & Supplies industry. Established in 1989, ResMed specializes in the development, manufacturing, and distribution of advanced medical devices and cloud-based software applications. The company operates through two main segments: Sleep and Respiratory Care, and Software as a Service. ResMed’s innovative solutions cater to individuals with respiratory disorders, featuring diagnostic tools like ApneaLink Air and NightOwl, along with remote monitoring applications such as AirView and myAir. As a stock, RMD represents an attractive investment in the expanding healthcare technology landscape, committed to improving patient care through diverse product offerings.
Investment Outlook
Analysts express a strong recommendation to buy shares of RMD, with a positive investment outlook reflecting considerable growth potential. The stock currently trades at $244.94, with a target high price set at $251.00, indicating a promising upside. Revenue reports highlight an impressive total of approximately $4.69 billion, showcasing robust market demand and solid positioning within the industry. The company has 146,932,000 shares outstanding, with short selling accounting for merely 0.0664% of float shares, signaling cautious investor optimism. Despite a lack of disclosed EBITDA, the overall financial performance strengthens the rationale behind the buy recommendations and suggests potential for attractive returns for investors.
Market Performance and Analysts’ Recommendations
Currently, RMD shares show strong potential. The stock price of $244.94 is well above the fifty-day moving average of $226.11, pointing to a favorable short-term trend. Additionally, with the current price near its fifty-two-week high of $255.18, the stock reflects investor bullishness, trading at approximately 96% of its peak value. Price target analysis reveals a target mean price of $221.04 and a target median price slightly higher at $227.50, gathered from eight analyst opinions with an average recommendation rating of 2.4. This consensus conveys a confident outlook on RMD’s future performance, indicating that the stock could serve as a valuable investment opportunity within the healthcare technology market.
| Metric | Value |
|---|---|
| Market Cap | $36.0b |
| Total Debt | $873.9m |
| Total Cash | $238.4m |
| Shares Outstanding | 146.9m |
| Float Shares | 145.6m |
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