Sales for COVID-19 patients fuel ResMed

Article Excerpt

ResMed continues to report stronger results as it expands its production of life support ventilators, non-invasive ventilators, and ventilation mask systems. That’s on top of ongoing sales for the company’s sleep apnea products. We still believe in this leader’s strong prospects and its outlook. It’s a Buy for our Power Growth Investors. RESMED INC. $179.93 (New York symbol RMD; TSINetwork Rating: Average) (www.resmed.com; Shares outstanding: 144.9 million; Market cap: $26.0 billion; Dividend yield: 0.9%) primarily makes and sells CPAP (nasal continuous positive airway pressure) medical devices. They are used to treat patients with sleep apnea and more. With each new machine ResMed sells, it acquires a potential long-term replacement-parts customer: the tubing, masks and so on need replacement several times a year. That provides steady, recurring revenue. Meanwhile, the company’s devices increasingly collect data from users about their machine use and sleeping patterns, and the effect that the machines have on their health. It then gives users feedback that coaches them on how best…

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