ResMed Inc. (NYSE:RMD), a strong player in the medical devices sector, has been demonstrating considerable growth and bolstered its position due to increased institutional investor control which now stands at 74%. Amid optimism towards the company's growth prospects, its stock surged 8.1% to reach a new 52-week high at $232.65. Major investments and share purchasing activities from W.G. Shaheen & Associates DBA Whitney & Co, Ascent Wealth Partners LLC, and AustralianSuper Pty Ltd prove the evident trust from the market players. ResMed's Q3 and Q4 earnings surpassed Wall Street estimates, expanding its margins. It's noteworthy that the company's dividend will be increased to $0.53. CFO Brett Sandercock and President of Asia Latin America sold a notable amount of ResMed shares. There are mixed sentiments regarding the effect of Eli Lilly's weight-loss drug on ResMed as some analysts anticipate a negative impact whereas others believe it won't hinder ResMed's progress. The company's forecasted earnings for FY2025 stand at the impressive figure of $9.05 per share. Two product launches, including a full-face CPAP mask AirFit F40 and a new sleep apnea treatment tool AirCurve 11, have been introduced recently. The stock continues to draw interest, despite seeing its market value drop by US$1.5b recently.
Resmed RMD News Analytics from Wed, 24 Jan 2024 08:00:00 GMT to Sun, 01 Sep 2024 13:53:16 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor -2
