ResMed Inc.’s Stock Price Plummets to $182.20, Marking a Significant 11.48% Drop

ResMed Inc. (RMD)

182.20 USD -23.63 (-11.48%) Volume: 4.02M

ResMed Inc.’s stock price stands at 182.20 USD, witnessing a decline of -11.48% this trading session with a trading volume of 4.02M, yet maintaining a positive YTD change of +5.92%, showcasing resilient performance in the market.

Latest developments on ResMed Inc.

Resmed Inc stock price took a hit today as a pair of Eli Lilly clinical trials on weight-loss drugs caused shares to tumble. The Australian stock market saw ResMed shares fall alongside Sonoco Products on Monday, while RXO and Alnylam Pharmaceuticals rose. This decline was further exacerbated by Lilly’s positive data on Zepbound for sleep apnea, leading to a downgrade by Citi. ResMed’s stock price gap down to $205.83 and has been downgraded to a “Moderate Buy” by brokerages, with Congress Asset Management acquiring shares. The market reaction to Lilly’s trial results has caused ResMed’s share price to plunge, highlighting the company’s vulnerability to external factors.

ResMed Inc. on Smartkarma

Analysts at Baptista Research have provided bullish coverage on ResMed Inc on Smartkarma. In a report titled “ResMed Inc.: What Are Their Latest Products & Their Expected Revenue Impact? – Major Drivers,” the analysts highlighted the company’s strong third financial quarter for 2024, showing robust top-line and double-digit bottom-line growth. The growth was attributed to high demand for their devices globally, strong growth in their Software as a Service business, and double-digit growth in masks and accessories. Despite tough comparisons from the previous year, ResMed’s performance was impressive.

Another report by Baptista Research on Smartkarma, “ResMed Inc: Potential expansion of sleep awareness and population health management strategies to boost growth! – Major Drivers,” focused on ResMed’s Q2 FY2024 earnings. The analysts noted the company’s strong execution across all business segments, leading to double-digit growth in both top and bottom-line figures. With over 2 billion people worldwide suffering from various respiratory conditions, ResMed’s focus on addressing sleep apnea and other disorders through innovative strategies bodes well for its growth prospects.

A look at ResMed Inc. Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

ResMed Inc. has been given a mixed outlook by Smartkarma Smart Scores, with high scores in Growth and Momentum indicating positive future prospects. The company is positioned well for potential growth and has shown strong momentum in recent times. However, its Value and Resilience scores are lower, suggesting some challenges in terms of valuation and resilience to market fluctuations.

Despite the lower scores in certain areas, ResMed Inc. remains a key player in the medical equipment industry, specifically in the treatment of sleep disordered breathing. With a focus on innovation and market expansion through subsidiaries and distributors, the company is poised to capitalize on its strengths in Growth and Momentum to drive future success.

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