ResMed Inc. (RMD) reported third quarter adjusted EPS of $0.65 after the bell Thursday, which was in line with analysts' expectations. Revenue increased to $422.5 million from $397.8 million last year. Analysts expected revenue of $424.79 million.
ResMed gapped open sharply lower Friday and fell during the first half hour of trade. The stock was range-bound for the remainder of the session and closed down by 7.68 at $65.70, with volume at a 3-month high. ResMed sank to a month and a half low and dropped below its 50-day moving average.
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