SAN DIEGO—Michael J. Rider, the Global General Counsel at ResMed Inc (NYSE:RMD), a $33.8 billion medical equipment company with a "GREAT" financial health rating according to InvestingPro, recently sold shares of the company's stock, according to a filing with the Securities and Exchange Commission. On January 2, Rider sold 75 shares at a price of $230.99 each, totaling approximately $17,324. This transaction was conducted under a Rule 10b5-1 plan that Rider adopted on May 11, 2024. Following this sale, Rider owns 9,038 shares of ResMed stock. The company, which has maintained dividend payments for 13 consecutive years, currently trades below its Fair Value based on InvestingPro's comprehensive analysis. Notably, ResMed demonstrates low price volatility, making it an interesting watch for stability-focused investors.
In other recent news, ResMed demonstrated significant growth in its Q1 Fiscal Year 2025 Earnings Call, reporting an 11% increase in revenue and a 27% rise in operating profit. This growth was attributed to strong demand for its sleep and respiratory health devices, particularly the AirSense 10 and 11 platforms. The company also announced the upcoming launch of the AirTouch N30i mask, expected to improve patient adherence due to its enhanced comfort.
ResMed's annual stockholders meeting resulted in the election of eleven directors and the ratification of KPMG LLP as the independent auditor for the fiscal year ending June 30, 2025. The company also received approval for executive compensation, with a majority of approximately 93 million votes in favor.
Stifel initiated coverage on ResMed with a hold rating and a $250 target price. However, Stifel also noted some areas of concern. Feedback from GLP-1 studies showed a potential discrepancy with management's expectations, suggesting that pharmaceuticals might decrease the number of patients requiring CPAP therapy. Stifel's diligence on ResMed's AirSense 11 product was favorable, but there is anticipation that the positive tailwinds driving device growth may begin to slow down.
Finally, ResMed is set to continue its expansion into digital health and adjacent markets, aiming to empower over 500 million people with its health tech solutions by 2030. These are recent developments that provide insight into ResMed's current performance and future plans.
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