RMD Stock Summary and Trading Ideas (Resmed | NYSE:RMD)

ResMed is one of the largest respiratory care device companies globally, 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 roughly two thirds of its 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 trades on the NYSE stock market under the symbol RMD.

As of April 25, 2024, RMD stock price declined to $179.42 with 156,631 million shares trading.

RMD has a beta of 1.72, meaning it tends to be more sensitive to market movements. RMD has a correlation of 0.30 to the broad based SPY ETF.

RMD has a market cap of $26.39 billion. This is considered a Large Cap stock.

Last quarter Resmed reported $1 billion in Revenue and $1.88 earnings per share. This beat revenue expectation by $13 million and exceeded earnings estimates by $.09.

In the last 3 years, RMD stock traded as high as $301.34 and as low as $132.24.

The top ETF exchange traded funds that RMD belongs to (by Net Assets): VTI, VOO, VO, SPY, VUG.

RMD has underperformed the market in the last year with a price return of -21.0% while the SPY ETF gained +22.5%. However, in the short term, RMD had mixed performance relative to the market. It has outperformed in the last 3 months, returning +4.7% vs +3.0% return in SPY. But in the last 2 weeks, RMD shares have been beat by the market, returning -7.4% compared to an SPY return of -3.0%.

RMD support price is $180.01 and resistance is $187.55 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that RMD stock will trade within this expected range on the day.