ResMed (RMD)

• Market cap: $34B
• 1 day: -0.47%
• 5 days: -4.20%
• 1 month: -6.50%
• 3 months: -4.89%
• 6 months: 3.29%
• Year to date: 1.40%
• 1 year: 28.51%
• 5 years: 33.25%
• 10 years: 252.01%
• Sector: Healthcare
• Industry: Surgical & Medical Instruments & Apparatus

About: 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.

Employees: 10,140

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

119% more first-time investments, than exits

New positions opened: 140 | Existing positions closed: 64

26% more repeat investments, than reductions

Existing positions increased: 318 | Existing positions reduced: 253

5% more funds holding

Funds holding: 785 [Q3] → 824 (+39) [Q4]

1.87% more ownership

Funds ownership: 59.28% [Q3] → 61.15% (+1.87%) [Q4]

3% less capital invested

Capital invested by funds: $21.2B [Q3] → $20.5B (-$714M) [Q4]

30% less funds holding in top 10

Funds holding in top 10: 10 [Q3] → 7 (-3) [Q4]

79% less call options, than puts

Call options by funds: $86.1M | Put options by funds: $415M

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $250 8% upside
• Avg. target: $269 16% upside
• High target: $286 23% upside

4 analyst ratings

• positive: 2 50%
• neutral: 2 50%
• negative: 0 0%

JP Morgan David Low 0% 1-year accuracy 0 / 1 met price target	23% upside $286	Overweight Maintained	31 Jan 2025
Keybanc Brett Fishbin 50% 1-year accuracy 9 / 18 met price target	21% upside $280	Overweight Maintained	31 Jan 2025
Piper Sandler Adam Maeder 75% 1-year accuracy 12 / 16 met price target	12% upside $260	Neutral Maintained	31 Jan 2025
Stifel Jonathan Block 10% 1-year accuracy 2 / 20 met price target	8% upside $250	Hold Initiated	13 Dec 2024