ResMed (ASX:RMD) share price returned 20% in 1 year. Where to in 2021?

Medical devices company ResMed Inc (ASX: RMD) had a successful year in 2020, with operating profit growing by more than 24%. As a result, the Resmed share price returned more than 20% for the investor. This, in a year dominated by the coronavirus pandemic.

Can the company improve on this share price performance in 2021? Let’s take a look at the opportunities and challenges ahead for ResMed this year.

First, the numbers…

For the full year of FY20, the company’s operating profit grew 24% to US$890.9 million.

ResMed then followed this up with a strong first-quarter FY21, with first-quarter revenues increasing by 10% against the prior comparative period to US$751.9 million, while net operating profit surged 27%.

A key driver of…