ResMed Stock: Is Wall Street Bullish or Bearish?

With a market cap of $35.8 billion, ResMed Inc. (RMD) is a global leader in the design, manufacturing, and distribution of medical devices and cloud-based software for the treatment of sleep-disordered breathing (SDB) and other respiratory conditions. It operates through two segments: Sleep and Respiratory Care, and Software-as-a-Service, offering innovative products and solutions for respiratory health and patient management.

Shares of the medical products maker have outperformed the broader market over the past 52 weeks. RMD has climbed 59.7% over this time frame, while the broader S&P 500 Index ($SPX) has gained 31%. In 2024, RMD stock surged 41.7%, compared to SPX's 25.2% YTD gain.