Citi sees ResMed's recent Medifox Dan acquisition as EPS accretive

ResMed

20/06/2022 21:09

** Citi research sees ASX-listed medical device maker
ResMed's  RMD.AX  recent acquisition of Medifox Dan, a German
out-of-hospital software co, as more than 1% EPS accretive in
FY23 
    ** Says the U.S.-based firm will be able to expand its
software as a service (SaaS) business footprint outside the U.S.
as Medifox Dan will continue to operate with its existing brands
under RMD
    ** Brokerage, however, cut RMD's price target to A$34.50
from A$35.50 as a result of incorporating the Medifox Dan
acquisition into forecasts 
    ** Citi maintains a "buy" rating on RMD, noting the large
fall in the share price over last few months 
    ** Nine of 14 analysts rate the stock "buy" or higher, five
rate it "hold"; their median PT is A$34.40 - Refinitiv data
    ** Stock down 18.8% this year, as of last close, vs a 13.6%
decrease in the benchmark S&P/ASX 200 index  .AXJO  


 (Reporting by Roushni Nair in Bengaluru; Editing by Lisa
Shumaker)
 ((Roushni.Nair@thomsonreuters.com;))