5 Oversold Healthcare Stocks to Buy

3. ResMed Inc. (NYSE:RMD)

14-day RSI as of August 4: 17.59

Number of Hedge Fund Holders: 32

Founded in 1989, San Diego, California-based ResMed Inc. (NYSE:RMD) is a medical equipment company that provides cloud-connected medical devices for people with sleep apnea, Chronic obstructive pulmonary disease (COPD), and other chronic diseases.

On August 3, ResMed Inc. (NYSE:RMD) released its financial results for the quarter ended June 30, 2023. Its revenue increased by 23% y-o-y to $1.1 billion, while net income increased by 18% y-o-y to $230 million. At $1.60, the normalized EPS for the quarter missed consensus estimates by $0.09.

The Board of Directors of ResMed Inc. (NYSE:RMD) declared a quarterly cash dividend of $0.48 per share which represents a 9% increase on the previous dividend amount. The dividend payout reflects a dividend yield of 1.07% based on the share price on August 4.