|Bid||32.47 x 0|
|Ask||32.48 x 0|
|Day's Range||32.05 - 32.60|
|52 Week Range||23.10 - 32.60|
|Beta (5Y Monthly)||0.28|
|PE Ratio (TTM)||32.20|
|Forward Dividend & Yield||0.20 (0.65%)|
|Ex-Dividend Date||May 12, 2021|
|1y Target Est||12.43|
Investors are optimistic about ResMed (RMD) on solid digital health growth potential along with rising demand for masks and other accessories.
Through Thursday's close, shares of the medical equipment company ResMed (NYSE: RMD) were up by a healthy 10% so far this week. ResMed's stock is marching higher this week in response to Koninklijke Philips' (NYSE: PHG) decision to voluntarily recall approximately 3.5 million ventilation devices for treating sleep apnea. Philips is recalling the devices over the use of a polyester-based polyurethane (PE-PUR) sound abatement foam that could be toxic if inhaled or ingested.
Although ResMed Inc’s (NYSE: RMD) long-term outlook is positive, the market seems to have over-reacted to rival Koninklijke Philips NV’s (NYSE: PHG) recall notification of certain sleep and respiratory care devices for the U.S., according to BofA Securities. The ResMed Analyst: Lyanne Harrison downgraded the rating for ResMed from Neutral to Underperform, while raising the price target from $216 to $221. The ResMed Thesis: Although the company is poised to benefit from Philips’s recall, the magn