Shares of ResMed Inc. (NYSE:RMD) traded today at $256.52, eclipsing its 52-week high. So far today approximately 82,000 shares have been exchanged, as compared to an average 30-day volume of 658,000 shares.
There is potential upside of 34.7% for shares of ResMed Inc. based on a current price of $256.46 and an average consensus analyst price target of $345.44.
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.
ResMed Inc. share prices have moved between a 52-week high of $256.52 and a 52-week low of $165.72 and are now trading 55% above that low price at $256.46 per share.
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