RMD – UBS rates the stock as Neutral

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ResMed will report its first-quarter results on 30 October. UBS forecasts revenue growth for US/Canada/Latin America to be 3%. Europe and Asia are expected to show a revenue growth of 5%. Gross margin is expected to be flat versus the fourth quarter and net profit is forecast to be up 12% versus last year. 

The broker also anticipates ventilator sales this quarter to be down circa -65% versus the June quarter although still well above pre-covid-19 levels.

Believing the fundamental drivers of longer-term growth remain intact, UBS maintains its Neutral rating with a target price of US$200.

Sector: Health Care Equipment & Services.

Current Price is $25.11. Target price not assessed.

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