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ResMed shares hit by fears about fed actions

Shares of San Diego’s ResMed Inc. (NYSE: RMD) have dropped 5 percent in the past two days, based on fears that the government might lower Medicare and Medicaid spending on home health care equipment.

This weekend, Barron’s magazine reported that the Centers for Medicare & Medicaid Services are scrutinizing the price and usage of use-at-home medical equipment like ResMed's continuous positive airway pressure (CPAP) face masks, designed to treat sleep apnea, which has been linked to heart and circulation problems, obesity and diabetes.

Barron’s said the government is weighing proposals to require prior approval for CPAP treatment and to bundle all payments into a fixed monthly fee per patient. The magazine speculated that if those restrictions affect ResMed's profit growth, they could potentially send the share price down by at least 15 percent.

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ResMed Inc.

Company Website

9001 Spectrum Center Blvd.
San Diego, CA 92123

Company Trade Data

Stock Symbol Close
Change
Chg %Chg
Volume
52-Week
High Low
RMD
56.5
  0.17  
+ 0.30%
346,996,000
75.33
45.74

Insider Trade Data

Date Insider Shares Type Value
10/15/2015 Farrell, Michael J 5,975 Sell $330,716
10/15/2015 Farrell, Michael J 5,975 Exchange $92,732
10/05/2015 Douglas, Robert Andrew 6,333 Sell $330,139
10/05/2015 Douglas, Robert Andrew 5,833 Exchange $112,285
10/05/2015 Pendarvis, David Brian 5,500 Sell $288,563

ResMed Inc. Executive(s):

Peter Farrell

  • Founder, Executive Chairman

Michael Farrell

  • Chief Executive Officer

Robert Douglas

  • Chief Operating Officer, President

Brett Sandercock

  • Chief Financial Officer

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NAICS - 339113 - Surgical Appliance and Supplies Manufacturing