At the 44th Annual J.P. Morgan Healthcare Conference, ResMed’s CEO Michael Farrell detailed the company’s transformation over the past five years, emphasizing its resilience through COVID-19 and global supply–chain disruptions. He noted that ResMed, which began as a Baxter spinout 36 years ago with an AUD 1.2 million investment, now boasts a market capitalization of approximately USD 37 billion. Over the trailing 12 months, the company generated USD 5.3 billion in revenue, achieved non-GAAP gross margins near 60%, and maintained operating profit margins above 33%. Farrell cited accelerated product launches and expanded cloud-connected device adoption as key drivers of recent growth.

In its most recent quarter, ResMed reported revenue of USD 1.34 billion, up 9.1% year-over-year, driven by strong demand for both sleep therapy devices and non-invasive ventilation solutions. Earnings per share came in at USD 2.55 on a GAAP basis, surpassing analyst consensus by USD 0.06. Net margin for the quarter stood at 27.4%, while return on equity reached 25.5%. Farrell highlighted that recurring hardware subscriptions and software-as-a-service offerings now represent over 20% of total revenue, supporting more predictable cash flow and reinforcing the company’s strategy to extend its digital health platform.

On January 7th, Director Peter Farrell sold 2,000 shares, reducing his stake by 2.9%, and CEO Michael Farrell divested approximately 4,991 shares. Despite these transactions, both executives retain substantial ownership positions, signaling continued long-term confidence. Meanwhile, large institutional investors have been increasing their stakes: Goldman Sachs Group added over 58,000 shares in the first quarter, raising its holding to roughly 739,000 shares, and Norges Bank initiated a new position. As of the latest filings, institutional and hedge fund ownership stands at 54.98% of the outstanding share base.