ASX-listed Resmed set for worst day in 3 years on weak Q4 results

ResMed

04/08/2023 05:04

(Adds Jefferies comments, weekly milestone)
    ** Resmed's ASX-listed shares  RMD.AX  sink ~11% to
A$30.130, set for worst day since Jan 2019
    ** RMD on track for biggest weekly loss since August 2020
    ** The medical equipment maker says Q4 gross margin fell due
to unfavourable product mix, higher component and manufacturing
costs  urn:newsml:reuters.com:*:nPlx8qXFJ4
    ** Citi says lower margins led to adjusted EPS of 160 cents
missing Visible Alpha consensus of 168 cents
    ** Rev up 23% on demand for sleep, respiratory care devices
    ** Jefferies says Q4 results were slightly below consensus
estimates; cuts lowers PT to $240.00 from $252.00
    ** Trading vol is nearly 6x the 30-day avg, in stock's
busiest trading day since March 2019

 (Reporting by Archishma Iyer and Poonam Behura)
 ((Archishma.Iyer@thomsonreuters.com;))