ResMed gains ahead

Article Excerpt

RESMED INC., $241.39 (New York symbol RMD; TSINetwork Rating: Average)(www.resmed.com; Shares outstanding: 145.7 million; Market cap: $35.1 billion; Dividend yield: 0.7%) was a #1 Power Buy for 2021 at $217.96. The shares reached as high as $301.34 in September (up 38.3%), before drifting down to today’s price (for a gain of 10.7%). We think the shares can regain last year’s all-time high—and move higher. ResMed continues to prosper in its core market—medical devices used to treat sleep apnea. In the three months ended September 30, 2021, the company’s revenue jumped 20.2%, to $904.0 million from $751.9 million a year earlier. Earnings per share in the quarter rose 18.9%, to $1.51 from $1.27. Going forward, the company is poised for even stronger growth in its profitable and expanding markets. ResMed is a buy. buy…