ResMed Inc (ASX: RMD) shares are pushing higher today.
Shares in the S&P/ASX 200 Index (ASX: XJO) sleep disorder treatment company closed on Friday trading for $30.50. In afternoon trade on Monday, shares are changing hands for $30.58 apiece, up 0.3%.
For some context, the ASX 200 is up 0.1% at this same time.
Despite today's bump, though, ResMed shares remain down 22.1% over the past 12 months, compared to the 3% one-year gains posted by the benchmark index.
Though we shouldn't dismiss the passive income on offer, especially with ResMed paying quarterly dividends. Over the last 12 months, the stock paid out a total of 24.6 cents a share in unfranked dividends. That sees ResMed trading on a 0.8% unfranked trailing dividend yield.
But, after a disappointing year of returns – with the stock hit over concerns that GLP-1 drugs like Ozempic could impact demand for its core sleep apnoea products – is the ASX 200 healthcare stock back in the buy zone?
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Should I buy ResMed shares today?
Catapult Wealth's Blake Halligan recently ran his slide rule over the ASX 200 healthcare share (courtesy of The Bull).
"ResMed is a global leader in sleep apnoea devices and digital health platforms, benefiting from strong structural demand and resilient clinical positioning," he noted.
And Halligan isn't overly concerned over the impact of GLP-1 drugs.
"Despite the progression in GLP-1 therapies for treating sleep apnoea, ResMed's CPAP (continuous positive airway pressure) treatments remain superior at this point in time," he said.
Summarising three reasons you might want to buy ResMed shares today, Halligan concluded, "RMD continues to offer appealing growth, income and defensive healthcare exposure."
A more bearish take on the ASX 200 healthcare share
Sanlam Private Wealth's Remo Greco also recently analysed the outlook for ResMed.
"The company makes medical devices to treat sleep apnoea," he said.
And revenue has been on the upswing.
"The company lifted revenue by 11% in the third quarter of financial year 2026 when compared to the prior corresponding period," Greco noted.
But Greco is concerned over the potential for GLP-1 to impact future growth.
He noted:
In my view, GLP-1 weight loss drugs may reduce the incidence of sleep apnoea. ResMed's share price has been volatile in the past 12 months as investors weighed up the company's outlook in light of popular GLP-1 drugs.
With that in mind, he recommended selling ResMed shares following the stock's recent rebound from its recent 3 June one-year lows.
"The shares have risen from $25.84 on June 3 to trade at $29.37 on July 2. It may be prudent to sell some shares prior to RMD's full year result," Greco concluded.
