ResMed successfully defends key patents against NYU’s claims
ResMed (ASX:RMD) announced on Tuesday that the US Patent Trial and Appeals Board has dismissed claims filed by New York University (NYU) related to the company's patents.
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Resmed Inc
At ResMed (NYSE: RMD, ASX: RMD) we pioneer innovative solutions that treat and keep people out of the hospital, empowering them to live healthier, higher-quality lives. Our cloud-connected medical devices transform care for people with sleep apnea, COPD, and other chronic diseases. Our comprehensive out-of-hospital software platforms support the professionals and caregivers who help people stay healthy in the home or care setting of their choice. By enabling better care, we improve quality of life, reduce the impact of chronic disease, and lower costs for consumers and healthcare systems in more than 120 countries. To learn more, visit ResMed.com and follow @ResMed.
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News
Sleepless Nights for Rivals after Philips Warning
Concerns for Resmed and Fisher and Paykel Healthcare after a surprise profit warning from Philips, their big Dutch rival in the sleep and respiratory sectors, saw its share price hit 10-year lows.
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Resmed Puts German Software Deal to Bed
After two smaller buys in this area in the past few years, Resmed has made a major deal to buy German out-of-hospital software solutions leader Medifox Dan for $US1 billion.
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RMD – Morgans rates the stock as Add
The broker retains its Add rating and reduces its target price to $40.80 from $41.34.
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RMD – Citi rates the stock as Neutral
The broker retains its Neutral rating and $36.50 target price.
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RMD – Credit Suisse rates the stock as Outperform
The analyst thinks recent share underperformance provides significant valuation upside. The $44 target price and Outperform rating are unchanged.
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Growth For ResMed Despite Challenges
Growth in masks and accessories has prevailed for ResMed despite pandemic-induced restrictions, although cycling the surge in ventilator sales from early 2020 will be a challenge.
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RMD – UBS rates the stock as Buy
ResMed will report its second-quarter results on January 29, 2021. UBS expects revenue growth to be 5.2% for the US, Canada and Latin America. The Buy rating is unchanged with a target of $US241.
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RMD – UBS rates the stock as Buy
UBS incorporates a 10% share buyback into forecasts, after assuming no major increases in debt levels due to any significant near-term acquisitions. The Buy rating is unchanged. The target price is increased to $US241 from US$210.
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RMD – Morgans rates the stock as Add
Resmed’s first quarter was above Morgans expectations, underpinned by high single digit revenue growth and expanding gross margins, with lower operating expenses driving ongoing operating leverage.
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