Analyst Lyanne Harrison of Bank of America Securities reiterated a Buy rating on Resmed, boosting the price target to $300.00.
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Lyanne Harrison’s rating is based on Resmed’s impressive financial performance and strategic initiatives. The company exceeded expectations in its fourth quarter results, with revenue and earnings per share surpassing consensus estimates. This was driven by strong growth across all segments, including devices and mask resupply, as well as an expansion in gross margin due to favorable foreign exchange rates and operational efficiencies.
Furthermore, Bank of America Securities has increased its price objective for Resmed, reflecting a more optimistic outlook on gross margin guidance and device growth expectations. The company’s ability to generate strong cash flow has also allowed for an extension of its share buyback program and potential acquisitions, further supporting the Buy rating. These factors, combined with a strategic focus on expanding diagnosis pathways and capturing new patients, contribute to the positive assessment of Resmed’s stock.