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California-based ResMed Inc. (RMD), with a market cap of $33.3 billion, operates in the healthcare sector, specializing in sleep and respiratory care solutions. The company designs, manufactures, and distributes medical devices and cloud-based software applications for treating sleep-disordered breathing and other respiratory conditions.
Shares of this medical equipment maker have significantly outperformed the broader market over the past 52 weeks. RMD stock has notably surged 40.3% over this time frame, while the broader S&P 500 Index ($SPX) has rallied 27.5%. In 2024, shares of RMD are up 31.3%, compared to SPX's 17.8% gain on a YTD basis.
