ResMed stock hits 52-week high at 263.62 USD

ResMed Inc (NYSE:RMD) stock reached a 52-week high, climbing to 263.62 USD. With a market capitalization of $38.47 billion and a P/E ratio of 29.18, this milestone highlights the company’s robust market performance over the past year, during which its stock has experienced a notable increase of 24.59%. InvestingPro analysis shows the company has maintained dividend payments for 14 consecutive years, with a 10.42% dividend growth in the last twelve months. The surge in ResMed’s stock price reflects investor confidence and positive sentiment surrounding the company’s growth prospects and strategic initiatives. According to InvestingPro data, the company maintains strong financial health with an overall score of "GREAT," and analysts have set price targets ranging from $200 to $295. As the stock hits this significant high, market analysts and investors will be closely monitoring ResMed’s future performance and any potential factors that could influence its trajectory in the coming months, with the next earnings report due on July 31, 2025.

In other recent news, ResMed’s fiscal third-quarter results have drawn attention from several analyst firms. Stifel maintained a Hold rating with a $240 price target, noting that while device sales fell short, mask sales exceeded expectations, contributing to a 9% worldwide constant currency growth. ResMed’s earnings per share (EPS) for the quarter were reported at $2.37, which was in line with Stifel’s prediction but slightly below the consensus estimate. Citi analysts, on the other hand, raised their price target for ResMed to AUD45, maintaining a Buy rating due to a strong earnings outlook and a projected compound annual growth rate of 15% for EPS from fiscal year 2024 to 2027. They also highlighted ResMed’s robust free cash flow generation and a solid balance sheet.

Meanwhile, KeyBanc Capital Markets reiterated an Overweight rating with a $274 price target, though they noted limited innovation from ResMed in the CPAP space, with competitor React Health making more significant strides. UBS also maintained a Buy rating with a $285 price target, following a successful Phase 3 clinical trial by Apnimed for a new obstructive sleep apnea treatment. This trial showed promising results, potentially impacting the market ResMed operates in. Despite some concerns about GLP-1 and upcoming reimbursement changes, ResMed’s management provided a positive update on tariff exemptions, offering short-term relief to some investors.

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