Welcome to our dedicated page for ResMed news (Ticker: RMD), a resource for investors and traders seeking the latest updates and insights on ResMed stock.
ResMed Inc. (NYSE: RMD, ASX: RMD) is a global leader in digital health and cloud-connected medical devices, focusing on innovative solutions that treat and prevent respiratory conditions like sleep apnea and COPD. By transforming patient care, ResMed empowers individuals to live healthier, higher-quality lives. Their diverse product portfolio includes flow generators, masks, and accessories designed to keep patients out of hospitals and manage chronic diseases effectively.
Operating in over 140 countries, ResMed’s cloud-connected medical devices provide data-driven insights used by patients, healthcare providers, and payers to deliver personalized and efficient healthcare. Their comprehensive out-of-hospital software platforms support professionals and caregivers, enhancing the quality of life and reducing healthcare costs. The company earns about two-thirds of its revenue from the Americas, with the remainder coming from Europe, Japan, and Australia.
In recent developments, ResMed successfully defended its intellectual property against a patent infringement claim by NYU, with the PTAB ruling in favor of ResMed on all challenged claims. This outcome underscores the company’s commitment to innovation, backed by over 9,500 issued or pending patents and designs.
ResMed also made headlines with a global field action to update guides for masks with magnets, ensuring user safety around medical implants. Their proactive approach and dedication to patient safety were evident as they addressed potential magnetic interference issues without necessitating a product recall.
Financially, ResMed continues to demonstrate strong growth. In the second quarter of fiscal year 2024, the company reported double-digit growth across its devices, masks, accessories, and residential care software businesses. This robust performance highlights ResMed’s strategic focus on expanding its product offerings and maintaining cost discipline.
ResMed's latest product launch, the AirCurve 11 series, further showcases their commitment to innovation. These bilevel PAP devices feature advanced digital technology to improve patient comfort and compliance, addressing challenges in CPAP therapy adaptation.
Continuing its leadership in respiratory care, ResMed actively participates in significant industry conferences such as the American Thoracic Society International Conference and SLEEP 2024, presenting crucial research on sleep disorders and their impact on health. This research supports the effectiveness of PAP therapy in reducing mortality and improving patient outcomes, solidifying ResMed’s role as a pioneer in the field.
With a clear focus on enhancing patient care through technology and innovation, ResMed is well-positioned to lead the expansion of sleep and respiratory health.
ResMed (NYSE: RMD) announced its plans to release third-quarter financial results for fiscal year 2023 on April 27, after market close. The company will host a webcast at 1:30 p.m. PDT to discuss the results and share additional forward-looking information. The event demonstrates ResMed's commitment to transparency with investors and stakeholders. Following the live webcast, a replay will be available on the company’s website, providing convenient access to the information shared. ResMed, known for its innovative digital health technologies and cloud-connected medical devices, serves over 140 countries, aiming to enhance healthcare delivery for chronic conditions.
ResMed (NYSE: RMD) announced that David Pendarvis, its chief administrative officer and global general counsel, will retire on June 30, 2023, after over 20 years with the company. He will transition to a consulting role until December 31, 2023. ResMed plans to conduct an internal search for his successor, aiming for a seamless transition. Amy Wakeham, currently Vice President of Corporate Communications & Investor Relations, has been appointed as the new Chief Communications and Investor Relations Officer, effective April 1, 2023. CEO Mick Farrell praised Pendarvis for his leadership during ResMed's transformation into a $30 billion global leader in digital health.
ResMed (NYSE: RMD) announced that Rob Douglas, president and COO, will participate in a fireside chat at the 2023 KeyBanc Life Sciences & MedTech Investor Forum on March 21, 2023, at approximately 3:45 p.m. EDT. The event will be accessible via webcast. Interested parties can find more information and access the live audio-only webcast by visiting ResMed Investor Relations. A replay will be available 24 hours after the event and will remain accessible for 90 days. ResMed focuses on innovative digital health technologies and cloud-connected medical devices for chronic diseases.
ResMed (NYSE: RMD) announced that Rob Douglas, the president and COO, will present at the Oppenheimer 33rd Annual Healthcare Conference on March 13, 2023, at approximately 11:20 a.m. EDT. The presentation will be accessible via a webcast, and interested parties can find more information and access the live stream on ResMed's investor relations website. A replay will be available approximately 24 hours after the event and can be accessed for 90 days. ResMed specializes in innovative solutions for chronic diseases, enhancing care with digital health technologies and cloud-connected medical devices across over 140 countries.
ResMed (NYSE: RMD) has appointed Mick Farrell as the new chair of the board, effective January 25, 2023. Farrell, who has been CEO since March 2013, succeeds Peter Farrell, who will transition to chair emeritus but remain on the board. Under Mick's leadership, ResMed's market capitalization surged from $6 billion to over $30 billion, achieving a total shareholder return of 507% over the past decade. The board believes combining the CEO and chair roles will enhance efficiency and align with practices of many S&P 500 peers. The company aims to positively impact 250 million lives by 2025.
ResMed reported a 16% year-over-year revenue growth for Q2 2023, totaling $1,033.7 million. This growth was driven by strong demand for sleep and respiratory care devices and an increase of 20% on a constant currency basis. Operating income also increased by 13%, while non-GAAP operating profit rose by 14%. The company achieved a diluted EPS of $1.53 and a non-GAAP diluted EPS of $1.66, reflecting a 13% increase from the previous year. ResMed completed the acquisition of MEDIFOX DAN, enhancing its Software-as-a-Service (SaaS) offerings in Europe. A quarterly cash dividend of $0.44 per share was declared, payable on March 16, 2023.
ResMed (NYSE: RMD) will release its financial and operational results for Q2 FY2023 on January 26, 2023, after NYSE closure. A webcast will follow to discuss these results, starting at 1:30 p.m. PDT (4:30 p.m. EDT). The event will also cover additional forward-looking and material information. Investors can access the webcast at ResMed's investor website. A replay will be available two hours post-webcast, along with a phone replay until February 9, 2023.
ResMed (NYSE: RMD) announced that CEO Mick Farrell will present at the 41st Annual J.P. Morgan Healthcare Conference on January 9, 2023, at 1:30 p.m. PST in San Francisco. The company is known for its innovative solutions aimed at treating chronic diseases like sleep apnea and COPD, enhancing patients' quality of life through digital health technologies. Investors can access the live audio-only webcast and a replay will be available post-event for 30 days. ResMed operates in over 140 countries, focusing on out-of-hospital support systems.
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