Shares of ResMed Inc. (NYSE:RMD) traded today at $251.99, eclipsing its 52-week high. Approximately 193,000 shares have changed hands today, as compared to an average 30-day volume of 667,000 shares.
ResMed Inc. has overhead space with shares priced $251.39, or 25.2% below the average consensus analyst price target of $336.05.
Over the past year, ResMed Inc. has traded in a range of $165.72 to $251.99 and is now at $251.39, 52% above that low.
ResMed is one of the largest global respiratory medical devices companies, primarily developing and supplying flow generators, masks and accessories for the treatment of sleep apnea. Increasing diagnosis of sleep apnea combined with ageing populations and increasing prevalence of obesity is resulting in a structurally growing market. The company earns 65% of revenue in the Americas and the balance across other regions dominated by Europe, Japan and Australia. Recent developments and acquisitions have focused on digital health as ResMed is aiming to differentiate itself through the provision of clinical data for use by the patient, medical care advisor and payer in the out-of-hospital setting.
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