0336 GMT - ResMed's expanded U.S. manufacturing footprint is seen by Goldman Sachs analysts as likely to further assist strong gross margin accretion at the breath-tech manufacturer. A 70bp expansion in 3Q gross margin was key to ResMed's stronger-than-expected profit for the period, they say. Keeping a buy rating on the stock, the analysts tell clients in a note that margin accretion to date reflects operating leverage from manufacturing capacity expansion, discipline on labor costs, and the optimization of raw materials. GS lifts its target price by 5.1% to A$49.30. Shares are down 0.7% at A$36.68. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
April 28, 2025 23:36 ET (03:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.