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BUZZ-ResMed jumps as Q3 results beat estimates
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BUZZ-ResMed jumps as Q3 results beat estimates

** Respiratory device maker ResMed's RMD.N shares jump 11% to $203.55 premarket

** Stock set for an over eight-month high, if gains hold

** Posts Q3 adj EPS of $2.13, above est of $1.91; revenue of $1.19 bln slightly above est of $1.17 bln - LSEG data

** Profit beat comes on the back of strong demand for co's sleep apnea devices

** Announces quarterly cash dividend of $0.48/shr

** "ResMed delivered a strong beat as gross margins rebounded after a long period of relative weakness... We assume sales grow in line with market given its dominant share and Philips Respironics is seemingly sidelined for the foreseeable future," says J.P.Morgan

** Out of 15 brokerages tracking RMD, rate it "buy" or higher and six "hold"; median PT at $203.50

** As of last close, RMD shares up ~7% YTD vs 2.6% rise in S&P 500 healthcare sector .SPXHC




(Reporting by Ankika Biswas in Bengaluru)

((Ankika.Biswas@thomsonreuters.com))

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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