Peter C. Farrell, Chairman Emeritus and Director at ResMed Inc . (NYSE:RMD), recently sold shares of the company in a transaction dated December 4, 2024. ResMed, with a market capitalization of $35.1 billion, has demonstrated strong performance with a 40.5% year-to-date return and maintains an impressive "GREAT" Financial Health score according to InvestingPro analysis. According to a filing with the Securities and Exchange Commission, Farrell sold 2,000 shares at a price of $245.65 each, totaling approximately $491,300. This transaction was conducted under a pre-established Rule 10b5-1 trading plan, which Farrell adopted on May 28, 2024. Based on InvestingPro analysis, ResMed is currently trading near its Fair Value, with 14 additional ProTips available to subscribers. Following this sale, Farrell holds 81,218 shares of ResMed common stock.
"In other recent news, ResMed Inc. reported significant growth in its Q1 Fiscal Year 2025 Earnings Call, with an 11% increase in revenue and a 27% rise in operating profit. The company attributed this growth to strong demand for its sleep and respiratory health devices, especially the AirSense 10 and 11 platforms. In addition, ResMed announced the upcoming launch of the AirTouch N30i mask, which aims to improve patient adherence due to its enhanced comfort.
At the company's annual stockholders meeting, shareholders elected eleven directors to the board, ratified the appointment of KPMG LLP as the independent auditor for the fiscal year ending June 30, 2025, and approved executive compensation. The board includes a mix of individuals, with the highest number of votes against for Richard Sulpizio and Ronald Taylor.
Furthermore, ResMed plans to continue its expansion into digital health and adjacent markets, with a strategy to empower over 500 million people with its health tech solutions by 2030. Despite facing challenges such as increased inventory levels and persistent supply chain difficulties, the company's focus on research and development, strategic acquisitions, and capital management is expected to drive continued growth. These recent developments underline ResMed's commitment to innovation and strategic growth in the health tech industry."
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