In addition to the sale, Rider made a charitable gift of 173 shares on November 29, 2024, transferring them to Fidelity Charitable, a donor-advised fund. This transaction was reported as a gift, with no financial gain involved, and Rider retains no beneficial interest or control over these gifted shares.Following these transactions, Rider holds 9,113 shares of ResMed common stock directly. The company maintains a "GREAT" financial health score according to InvestingPro, which offers comprehensive analysis through its Pro Research Report, available for ResMed and 1,400+ other US stocks. The company maintains a "GREAT" financial health score according to InvestingPro, which offers comprehensive analysis through its Pro Research Report, available for ResMed and 1,400+ other US stocks.
In addition to the sale, Rider made a charitable gift of 173 shares on November 29, 2024, transferring them to Fidelity Charitable, a donor-advised fund. This transaction was reported as a gift, with no financial gain involved, and Rider retains no beneficial interest or control over these gifted shares.
Following these transactions, Rider holds 9,113 shares of ResMed common stock directly.
In other recent news, ResMed Inc (NYSE:RMD). reported an 11% increase in revenue and a 27% rise in operating profit in its Q1 Fiscal Year 2025 Earnings Call. The medical equipment company attributed this growth to strong demand for its sleep and respiratory health devices, particularly the AirSense 10 and 11 platforms. Additionally, the company announced the upcoming launch of the AirTouch N30i mask, which is expected to enhance patient adherence due to improved comfort.
Recently, ResMed also held its annual stockholders meeting, where 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 of directors, elected to serve until the 2025 annual meeting, includes a mix of individuals, with Richard Sulpizio and Ronald Taylor receiving the highest number of votes against.
In other developments, ResMed plans to expand into digital health and adjacent markets, with a strategy focusing on its core sleep health business. The company aims to empower over 500 million people with its health tech solutions by 2030 and is preparing to face competition, particularly from Philips. Despite increased inventory levels and supply chain difficulties, ResMed's focus on research and development, strategic acquisitions, and capital management is expected to drive continued growth.
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