#4 - ResMed Inc (NYSE:RMD)
ResMed Inc. (NYSE: RMD) - ResMed is a proven performer in the field of medical devices and cloud-based software applications. The company's stock has seen a 47% year-over-year growth. This not only dwarfs the industry's growth of 15%, but it also beats the S&P 500's average of 12.5%. ResMed’s 9.3% historical growth rate also beats its industry average of 6.9%. A key reason for the stock’s performance is that the company’s products target two medical conditions, sleep apnea and chronic obstructive pulmonary disease (COPD), which gives it a market that has grown to two million patients daily. This allows it to help patients while helping reduce healthcare costs. A win-win that has allowed the company to deliver an annual return to its shareholders of nearly 12 percent (11.9%), which is 478 basis points higher than the S&P 500.
The market for its products shows no signs of shrinking. A recent study cites that approximately 1 in 4 adults has sleep apnea. And COPD is a disease that affects more than 200 million worldwide and is the reason for over $50 billion in health-care costs in just the United States. And that's an important point. Because in addition to its growth in the United States, the company is reporting expansion opportunities in large markets such as Latin America, Eastern Europe, China, and India.
About ResMed
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.
Read More - Current Price
- $218.57
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 7 Buy Ratings, 3 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $202.80 (7.2% Downside)
