Intrinsic value of ResMed - RMD

Previous Close

$106.84

  Intrinsic Value

$53.87

stock screener

  Rating & Target

sell

-50%

Previous close

$106.84

 
Intrinsic value

$53.87

 
Up/down potential

-50%

 
Rating

sell

We calculate the intrinsic value of RMD stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2017), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 15.1

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046
   2047

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  12.40
  11.66
  10.99
  10.39
  9.86
  9.37
  8.93
  8.54
  8.19
  7.87
  7.58
  7.32
  7.09
  6.88
  6.69
  6.52
  6.37
  6.23
  6.11
  6.00
  5.90
  5.81
  5.73
  5.66
  5.59
  5.53
  5.48
  5.43
  5.39
  5.35
Revenue, $m
  2,323
  2,594
  2,879
  3,179
  3,492
  3,819
  4,160
  4,516
  4,885
  5,270
  5,669
  6,084
  6,515
  6,964
  7,430
  7,915
  8,419
  8,944
  9,490
  10,059
  10,653
  11,272
  11,918
  12,592
  13,296
  14,031
  14,800
  15,603
  16,444
  17,323
Variable operating expenses, $m
  1,766
  1,956
  2,156
  2,367
  2,587
  2,817
  3,057
  3,306
  3,566
  3,836
  3,984
  4,276
  4,579
  4,894
  5,222
  5,562
  5,917
  6,286
  6,670
  7,070
  7,487
  7,922
  8,376
  8,849
  9,344
  9,861
  10,401
  10,966
  11,557
  12,175
Fixed operating expenses, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,766
  1,956
  2,156
  2,367
  2,587
  2,817
  3,057
  3,306
  3,566
  3,836
  3,984
  4,276
  4,579
  4,894
  5,222
  5,562
  5,917
  6,286
  6,670
  7,070
  7,487
  7,922
  8,376
  8,849
  9,344
  9,861
  10,401
  10,966
  11,557
  12,175
Operating income, $m
  558
  638
  723
  812
  905
  1,002
  1,104
  1,209
  1,319
  1,433
  1,685
  1,808
  1,936
  2,070
  2,208
  2,352
  2,502
  2,658
  2,820
  2,990
  3,166
  3,350
  3,542
  3,742
  3,951
  4,170
  4,398
  4,637
  4,887
  5,148
EBITDA, $m
  885
  988
  1,097
  1,211
  1,330
  1,455
  1,585
  1,720
  1,861
  2,008
  2,160
  2,318
  2,482
  2,653
  2,831
  3,015
  3,208
  3,408
  3,616
  3,833
  4,059
  4,295
  4,541
  4,797
  5,066
  5,346
  5,639
  5,945
  6,265
  6,600
Interest expense (income), $m
  28
  58
  68
  79
  90
  102
  115
  127
  141
  155
  170
  185
  200
  217
  234
  252
  270
  289
  309
  330
  351
  374
  397
  422
  447
  474
  501
  530
  561
  592
  626
Earnings before tax, $m
  500
  570
  644
  722
  803
  888
  976
  1,068
  1,164
  1,264
  1,500
  1,608
  1,720
  1,836
  1,957
  2,082
  2,213
  2,349
  2,491
  2,638
  2,792
  2,953
  3,120
  3,295
  3,478
  3,669
  3,868
  4,077
  4,295
  4,523
Tax expense, $m
  135
  154
  174
  195
  217
  240
  264
  288
  314
  341
  405
  434
  464
  496
  528
  562
  598
  634
  673
  712
  754
  797
  842
  890
  939
  991
  1,044
  1,101
  1,160
  1,221
Net income, $m
  365
  416
  470
  527
  586
  648
  713
  780
  850
  923
  1,095
  1,174
  1,255
  1,340
  1,428
  1,520
  1,615
  1,715
  1,818
  1,926
  2,038
  2,156
  2,278
  2,405
  2,539
  2,678
  2,824
  2,976
  3,135
  3,302

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  3,382
  3,776
  4,191
  4,627
  5,083
  5,559
  6,056
  6,573
  7,111
  7,670
  8,252
  8,856
  9,484
  10,136
  10,815
  11,520
  12,254
  13,018
  13,814
  14,643
  15,506
  16,407
  17,347
  18,328
  19,353
  20,424
  21,542
  22,712
  23,936
  25,216
Adjusted assets (=assets-cash), $m
  3,382
  3,776
  4,191
  4,627
  5,083
  5,559
  6,056
  6,573
  7,111
  7,670
  8,252
  8,856
  9,484
  10,136
  10,815
  11,520
  12,254
  13,018
  13,814
  14,643
  15,506
  16,407
  17,347
  18,328
  19,353
  20,424
  21,542
  22,712
  23,936
  25,216
Revenue / Adjusted assets
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
  0.687
Average production assets, $m
  1,947
  2,174
  2,413
  2,664
  2,926
  3,200
  3,486
  3,784
  4,094
  4,416
  4,751
  5,098
  5,460
  5,836
  6,226
  6,632
  7,055
  7,495
  7,953
  8,430
  8,927
  9,446
  9,987
  10,552
  11,142
  11,758
  12,402
  13,076
  13,780
  14,517
Working capital, $m
  197
  221
  245
  270
  297
  325
  354
  384
  415
  448
  482
  517
  554
  592
  632
  673
  716
  760
  807
  855
  906
  958
  1,013
  1,070
  1,130
  1,193
  1,258
  1,326
  1,398
  1,472
Total debt, $m
  1,268
  1,466
  1,674
  1,893
  2,122
  2,361
  2,610
  2,870
  3,140
  3,421
  3,713
  4,016
  4,331
  4,659
  4,999
  5,353
  5,722
  6,105
  6,505
  6,921
  7,354
  7,807
  8,278
  8,771
  9,285
  9,823
  10,384
  10,972
  11,586
  12,229
Total liabilities, $m
  1,698
  1,896
  2,104
  2,323
  2,552
  2,791
  3,040
  3,300
  3,570
  3,851
  4,142
  4,446
  4,761
  5,088
  5,429
  5,783
  6,152
  6,535
  6,935
  7,351
  7,784
  8,237
  8,708
  9,201
  9,715
  10,253
  10,814
  11,402
  12,016
  12,658
Total equity, $m
  1,684
  1,881
  2,087
  2,304
  2,531
  2,768
  3,016
  3,273
  3,541
  3,820
  4,109
  4,410
  4,723
  5,048
  5,386
  5,737
  6,103
  6,483
  6,879
  7,292
  7,722
  8,171
  8,639
  9,128
  9,638
  10,171
  10,728
  11,311
  11,920
  12,558
Total liabilities and equity, $m
  3,382
  3,777
  4,191
  4,627
  5,083
  5,559
  6,056
  6,573
  7,111
  7,671
  8,251
  8,856
  9,484
  10,136
  10,815
  11,520
  12,255
  13,018
  13,814
  14,643
  15,506
  16,408
  17,347
  18,329
  19,353
  20,424
  21,542
  22,713
  23,936
  25,216
Debt-to-equity ratio
  0.750
  0.780
  0.800
  0.820
  0.840
  0.850
  0.870
  0.880
  0.890
  0.900
  0.900
  0.910
  0.920
  0.920
  0.930
  0.930
  0.940
  0.940
  0.950
  0.950
  0.950
  0.960
  0.960
  0.960
  0.960
  0.970
  0.970
  0.970
  0.970
  0.970
Adjusted equity ratio
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498
  0.498

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  365
  416
  470
  527
  586
  648
  713
  780
  850
  923
  1,095
  1,174
  1,255
  1,340
  1,428
  1,520
  1,615
  1,715
  1,818
  1,926
  2,038
  2,156
  2,278
  2,405
  2,539
  2,678
  2,824
  2,976
  3,135
  3,302
Depreciation, amort., depletion, $m
  327
  350
  374
  399
  425
  453
  481
  511
  542
  574
  475
  510
  546
  584
  623
  663
  705
  749
  795
  843
  893
  945
  999
  1,055
  1,114
  1,176
  1,240
  1,308
  1,378
  1,452
Funds from operations, $m
  692
  766
  844
  926
  1,011
  1,101
  1,194
  1,291
  1,392
  1,497
  1,570
  1,683
  1,801
  1,924
  2,051
  2,183
  2,321
  2,464
  2,614
  2,769
  2,931
  3,100
  3,277
  3,461
  3,653
  3,854
  4,064
  4,283
  4,513
  4,753
Change in working capital, $m
  22
  23
  24
  25
  27
  28
  29
  30
  31
  33
  34
  35
  37
  38
  40
  41
  43
  45
  46
  48
  50
  53
  55
  57
  60
  63
  65
  68
  71
  75
Cash from operations, $m
  670
  743
  820
  900
  985
  1,073
  1,165
  1,261
  1,361
  1,464
  1,536
  1,648
  1,765
  1,886
  2,011
  2,142
  2,278
  2,420
  2,567
  2,721
  2,881
  3,048
  3,222
  3,403
  3,593
  3,791
  3,999
  4,215
  4,442
  4,679
Maintenance CAPEX, $m
  -173
  -195
  -217
  -241
  -266
  -293
  -320
  -349
  -378
  -409
  -442
  -475
  -510
  -546
  -584
  -623
  -663
  -705
  -749
  -795
  -843
  -893
  -945
  -999
  -1,055
  -1,114
  -1,176
  -1,240
  -1,308
  -1,378
New CAPEX, $m
  -215
  -227
  -239
  -251
  -263
  -274
  -286
  -298
  -310
  -322
  -335
  -348
  -361
  -376
  -391
  -406
  -423
  -440
  -458
  -477
  -497
  -519
  -541
  -565
  -590
  -616
  -644
  -673
  -704
  -737
Cash from investing activities, $m
  -388
  -422
  -456
  -492
  -529
  -567
  -606
  -647
  -688
  -731
  -777
  -823
  -871
  -922
  -975
  -1,029
  -1,086
  -1,145
  -1,207
  -1,272
  -1,340
  -1,412
  -1,486
  -1,564
  -1,645
  -1,730
  -1,820
  -1,913
  -2,012
  -2,115
Free cash flow, $m
  282
  321
  363
  408
  456
  506
  559
  614
  672
  733
  760
  825
  893
  964
  1,037
  1,113
  1,192
  1,274
  1,360
  1,448
  1,540
  1,636
  1,736
  1,840
  1,948
  2,061
  2,179
  2,301
  2,430
  2,564
Issuance/(repayment) of debt, $m
  189
  198
  208
  219
  229
  239
  249
  260
  270
  281
  292
  303
  315
  328
  341
  354
  368
  384
  399
  416
  434
  452
  472
  493
  514
  537
  562
  587
  614
  643
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  189
  198
  208
  219
  229
  239
  249
  260
  270
  281
  292
  303
  315
  328
  341
  354
  368
  384
  399
  416
  434
  452
  472
  493
  514
  537
  562
  587
  614
  643
Total cash flow (excl. dividends), $m
  471
  519
  572
  627
  685
  745
  808
  874
  942
  1,014
  1,052
  1,129
  1,208
  1,291
  1,378
  1,467
  1,561
  1,658
  1,759
  1,864
  1,974
  2,088
  2,208
  2,332
  2,462
  2,598
  2,740
  2,889
  3,044
  3,206
Retained Cash Flow (-), $m
  -186
  -196
  -207
  -217
  -227
  -237
  -247
  -258
  -268
  -279
  -290
  -301
  -313
  -325
  -338
  -351
  -366
  -380
  -396
  -413
  -430
  -449
  -468
  -489
  -510
  -533
  -557
  -583
  -609
  -638
Prev. year cash balance distribution, $m
  462
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  45
  51
  57
  63
  70
  77
  84
  92
  99
  107
  116
  125
  134
  143
  153
  163
  174
  185
  197
  209
  221
  234
  248
  262
  277
  293
  309
  326
  343
  362
Cash available for distribution, $m
  747
  323
  365
  410
  458
  508
  561
  617
  675
  735
  762
  828
  896
  966
  1,040
  1,116
  1,195
  1,277
  1,363
  1,452
  1,544
  1,640
  1,740
  1,844
  1,952
  2,065
  2,183
  2,306
  2,435
  2,569
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  716
  296
  318
  338
  355
  369
  379
  385
  387
  385
  362
  353
  341
  324
  305
  284
  260
  235
  210
  184
  160
  136
  114
  94
  76
  60
  47
  36
  27
  19
Current shareholders' claim on cash, %
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

ResMed Inc. is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases. SDB includes obstructive sleep apnea (OSA) and other respiratory disorders that occur during sleep. Its cloud-based software digital health applications, along with its devices, are designed to provide connected care to improve patient outcomes. The Company's portfolio of products includes devices, diagnostic products, mask systems, headgear and other accessories, dental devices, portable oxygen concentrators (POCs) and cloud-based software informatics solutions. The Company produces Continuous Positive Airway Pressure (CPAP), Variable Positive Airway Pressure (VPAP) and AutoSet systems for the titration and treatment of SDB.

FINANCIAL RATIOS  of  ResMed (RMD)

Valuation Ratios
P/E Ratio 44.4
Price to Sales 7.3
Price to Book 7.7
Price to Tangible Book
Price to Cash Flow 36.7
Price to Free Cash Flow 44.3
Growth Rates
Sales Growth Rate 12.4%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 4.4%
Cap. Spend. - 3 Yr. Gr. Rate -2.6%
Financial Strength
Quick Ratio NaN
Current Ratio 0
LT Debt to Equity 55.1%
Total Debt to Equity 55.1%
Interest Coverage 16
Management Effectiveness
Return On Assets 10.9%
Ret/ On Assets - 3 Yr. Avg. 13.3%
Return On Total Capital 11.6%
Ret/ On T. Cap. - 3 Yr. Avg. 14.8%
Return On Equity 18.7%
Return On Equity - 3 Yr. Avg. 20.4%
Asset Turnover 0.6
Profitability Ratios
Gross Margin 58.2%
Gross Margin - 3 Yr. Avg. 58.8%
EBITDA Margin 27%
EBITDA Margin - 3 Yr. Avg. 29%
Operating Margin 20.5%
Oper. Margin - 3 Yr. Avg. 22.7%
Pre-Tax Margin 20.3%
Pre-Tax Margin - 3 Yr. Avg. 23.4%
Net Profit Margin 16.5%
Net Profit Margin - 3 Yr. Avg. 18.9%
Effective Tax Rate 18.4%
Eff/ Tax Rate - 3 Yr. Avg. 19.1%
Payout Ratio 54.4%

RMD stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the RMD stock intrinsic value calculation we used $2067 million for the last fiscal year's total revenue generated by ResMed. The default revenue input number comes from 2017 income statement of ResMed. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our RMD stock valuation model: a) initial revenue growth rate of 12.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for RMD is calculated based on our internal credit rating of ResMed, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of ResMed.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of RMD stock the variable cost ratio is equal to 76.7%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for RMD stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for ResMed.

Corporate tax rate of 27% is the nominal tax rate for ResMed. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the RMD stock is equal to 2.2%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for RMD are equal to 83.8%.

Life of production assets of 10 years is the average useful life of capital assets used in ResMed operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for RMD is equal to 8.5%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $1960 million for ResMed - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 141 million for ResMed is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of ResMed at the current share price and the inputted number of shares is $15.1 billion.

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COMPANY NEWS

▶ What Do Analysts Think About ResMed Incs (NYSE:RMD) Growth?   [Aug-14-18 11:34AM  Simply Wall St.]
▶ ResMed: Fiscal 4Q Earnings Snapshot   [06:15PM  Associated Press]
▶ ResMed to Announce Fourth Quarter Fiscal Year 2018 Results   [Jul-05-18 04:05PM  Business Wire]
▶ Brightree Announces eReferral Integration with athenahealth   [Jun-14-18 09:05AM  Business Wire]
▶ [$$] ResMed to Acquire Pamlico Capital's HealthcareFirst   [May-29-18 01:51PM  The Wall Street Journal]
▶ 3 Stocks for Baby Boomers to Reach Their Goals   [May-22-18 10:34AM  Motley Fool]
▶ Are ResMed Incs (NYSE:RMD) Interest Costs Too High?   [May-05-18 07:47PM  Simply Wall St.]
▶ ResMed's Profits Jump 32%   [02:03PM  Motley Fool]
▶ ResMed: Fiscal 3Q Earnings Snapshot   [Apr-26-18 04:37PM  Associated Press]
▶ Company Profile for ResMed   [Apr-06-18 10:40AM  Business Wire]
▶ ResMed to Announce Third Quarter Fiscal Year 2018 Results   [Mar-29-18 04:05PM  Business Wire]
▶ GEMCO Medical Announces Brightree Partnership   [Feb-07-18 11:36AM  PR Newswire]
▶ Operating Leverage Drives ResMed's Profits Higher   [Jan-24-18 02:53PM  Motley Fool]
▶ ResMed: S&P 500s Top Gainer on January 23   [09:40AM  Market Realist]
▶ What Happened in the Stock Market Today   [Jan-23-18 05:07PM  Motley Fool]
▶ Here's Why ResMed Inc. Is Soaring Today   [11:58AM  Motley Fool]
▶ ResMed beats 2Q profit forecasts   [04:29PM  Associated Press]
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