ResMed Inc.

ASX:RMD

ResMed Inc.

ASX:RMD
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$35.30 (+0.4%)
Last close price
#12
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50
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Pinned straw:
thunderhead
Last edited a month ago

ResMed released another set of solid and steady results on Friday. A particular highlight is the gross margin expansion (59.6% from 56.9% in the comparable period).

Not sure what drove the -8.33% market reaction overnight in the US, but it seems overdone. ResMed has some form in selling off on earnings before recovering strongly in any case.

If it wasn't my largest ASX position already, I would be quite confident adding.
mikebrisy
Added a month ago

Not sure what this is about….perhaps a few things:

  1. not unusual for $RMD to sell on results in US unless a very strong “beat” (this was a modest NPAT “beat”, and missed some values on %GM.). When this happens. It usually reverses over coming days and weeks.
  2. Tarrifs news unfolding during trading day … market may not understand that most of $RMD product for US is made in Singapore (so not Mexico, Canada or China which are in the gunsights.) Perhaps all high P/E importers just got whacked? (Pharma generally did OK, though)


ASX should follow down, but likely muted. Unlikely to bring it into the “buy” zone for me … I need >10% for that, but fingers crossed. I’ll be watching and even lay in a buy order at $36…. You never know!

Analyst updates from the result are all increases in PT as far as I can see so far.

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