ResMed and Netwealth: Noteworthy Share Price Movements

2 min read | September 05, 2024 12:47 PM AEST | By Team Kalkine Media

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ResMed CDI and Netwealth Group Ltd have recently caught the eye of investors due to significant movements in their share prices. Both companies, notable ASX value stocks, have been experiencing notable fluctuations, attracting considerable attention from market participants. These developments have sparked interest as investors closely monitor their performance and potential future trends.

ResMed CDI (ASX:RMD)

ResMed CDI, a leading player in the medical equipment industry, has seen its share price soar by 42.4% since the start of 2024. Founded in 1989 by Peter Farrell and now headquartered in San Diego, California, ResMed is renowned for its cloud-connectable continuous positive airway pressure (CPAP) machines, which are crucial for treating obstructive sleep apnea (OSA).

Operating globally with over 10,000 employees in more than 140 countries, ResMed’s business is divided into two main segments: Sleep and Respiratory Care and Software as a Service (SaaS). The Sleep and Respiratory Care division offers advanced CPAP machines and other solutions for patients with sleep disorders and those requiring various forms of respiratory support. Meanwhile, the SaaS unit provides software designed to aid in managing durable and home medical equipment, enhancing out-of-hospital care.

ResMed’s innovative approach, leveraging a vast digital health network powered by cloud-connected devices, enables it to improve healthcare outcomes and reduce costs through data-driven insights.

Currently, ResMed’s share price has a price-to-sales ratio of 5.13x, which is below its 5-year average of 6.13x. This suggests that the shares are trading at a lower multiple compared to their historical norms, although it is important to consider this within a broader context and not as a sole valuation metric.

Netwealth Group Ltd (ASX:NWL)

Netwealth Group Ltd, established in 1999, provides a platform for financial planners to manage client investments. As of 2024, Netwealth has attracted over 140,000 account holders and manages over $88 billion in funds under administration (FUA).

The share price of Netwealth has notably increased, tracking 79.8% above its 52-week lows. This reflects strong performance and growing investor confidence in the company’s wealth management services.

Both ResMed and Netwealth are making waves in their respective sectors, with ResMed’s advancements in medical technology and Netwealth’s growth in wealth management standing out in today’s market.

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