William Blair analyst Brandon Vazquez has maintained their bullish stance on RMD stock, giving a Buy rating today.
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Brandon Vazquez has given his Buy rating due to a combination of factors that highlight Resmed’s strong performance and future potential. The company has demonstrated robust growth, particularly with a 10% increase in global organic mask sales and notable growth in the American market. This growth is attributed to strategic investments in new masks, SaaS platforms, primary care physician education, and home sleep testing, which are expected to continue driving durable growth.
Furthermore, Resmed is benefiting from operational efficiencies, such as reduced freight costs and automation, which are contributing to margin expansion. Despite a recent decline in share price, the solid first-quarter results provide confidence in the company’s ability to meet expectations. With shares trading at a reasonable multiple of future earnings estimates, Vazquez anticipates further upside potential through EPS growth and possible valuation expansion.
Based on the recent corporate insider activity of 88 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RMD in relation to earlier this year.