ASX-listed ResMed slips after Jarden cuts PT

ResMed

16/04/2025 04:51

** ASX-listed shares of medical devices manufacturer ResMed RMD.AX fall 1.2% to A$33.42

** Jarden cuts price target to A$39.97 from A$41.48, maintains "overweight" rating on stock

** New price target represents an upside of 18.2% to stock's last close

** Brokerage forecasts RMD's third-quarter adjusted NPAT at $362.9 million, up 15.4% pcp, despite noting a slowdown in U.S. device sales

** Expects RMD flipping to net cash position of around $66 million in third quarter, which could allow co to be more definitive with its buy-back strategy in future

** Stock down 9.1% YTD

 (Reporting by Kumar Tanishk in Bengaluru)

 ((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))