The ResMed Inc. (CHESS) (ASX: RMD) share price had a positive start to the week on Monday and finished the day 0.5% higher at $11.44.
At one stage the sleep treatment company's shares reached an all-time high of $11.49.
Why are they at an all-time high?
Investors have been fighting to get hold of shares since its quarterly update in late October revealed a strong start to FY 2018.
First-quarter revenue increased 13% over the corresponding period to US$523.7 million thanks partly to the strong performance of the Brightree business it acquired in 2016. The company's cloud based software business saw sales rise 15% during the period.
The company's shares were given an additional boost recently when Morgans named it as one of its high conviction buys for 2018.
ResMed was joined on the list by Oil Search Limited (ASX: OSH) and Link Administration Holdings Ltd (ASX: LNK), amongst others.
Judging by ResMed's recent share price performance, the market appears to agree with Morgans.
