ASX-listed ResMed climbs on upbeat quarterly results

ResMed

27/01/2023 04:06

(Updates with analyst comments)
    ** ASX-listed shares of U.S.- based ResMed Inc  RMD.AX 
climb 3% to A$33.965, their highest since Dec. 5
    ** Medical devices maker posts higher Q2 net income, while
revenue jumped 16%
    ** Citi says results were in-line with its estimates at adj.
EBIT level; rates RMD "buy" with A$37 PT
    ** Expects RMD device sales to grow sequentially every qtr
in FY23
    ** Says supply chain situation is improving and the
competitive dynamic remains very much in RMD's favour 
    ** In 2022, stock lost 13.5% 
 (Reporting by Navya Mittal and John Biju in Bengaluru)
 ((navya.mittal@thomsonreuters.com
john.biju@thomsonreuters.com))