US stock futures flounder amid tech weakness, Fed caution
ResMed Inc (NYSE:RMD) stock reached a new 52-week high, closing at 275.86 USD. With a market capitalization of $40.24 billion and revenue growth of 9.54%, this milestone underscores the company’s robust performance over the past year, during which its stock price has increased by 32.41%. According to InvestingPro analysis, the stock’s RSI indicates overbought territory, suggesting investors should monitor the situation carefully. The surge in ResMed’s stock value reflects positive investor sentiment and confidence in the company’s growth prospects. Trading at a P/E ratio of 30.57 and offering a dividend yield of 0.78%, the company maintains strong fundamentals. As the healthcare sector continues to evolve, ResMed’s advancements in medical technology and solutions are likely contributing to its strong market position and the recent peak in its stock price. For deeper insights and additional ProTips about ResMed, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Citi analysts have raised their price target for ResMed stock to AUD45 from AUD44, maintaining a Buy rating. This decision follows ResMed’s third-quarter results, which aligned with expectations and led to an upgrade in the projected earnings per share for fiscal years 2025 to 2027 by up to 4%. Citi highlighted ResMed’s robust free cash flow exceeding $1.5 billion over the trailing twelve months and a strong balance sheet with net cash. UBS analyst Marcus Curley also maintained a Buy rating on ResMed shares with a price target of $285.00, following Apnimed’s announcement of a successful Phase 3 clinical trial for a new obstructive sleep apnea treatment. Meanwhile, KeyBanc Capital Markets reiterated its Overweight rating and $274.00 price target on ResMed stock, noting limited innovation in CPAP technology at a recent industry event. The most notable innovation came from competitor React Health rather than ResMed. These developments provide investors with insights into ResMed’s current market positioning and future prospects.
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