Tiger Brokers

BUZZ-Medical device maker ResMed rises on Q2 profit beat

Reuters
Jan 30
BUZZ-Medical device maker ResMed rises on <a href="https://laohu8.com/S/QTWO">Q2</a> profit beat

** Shares of medical device maker ResMed RMD.N rise 4.8% to $270.01 in premarket trading

** Co on Thursday posted Q2 adj. EPS of $2.81, beating analysts' average estimate of $2.72 - data compiled by LSEG

** Results helped by strong demand for co's sleep devices

** RMD recorded $6 million of restructuring-related charges from workforce planning activities in Q1

** Q2 revenue of $1.42 billion marginally beat analysts' average estimate of $1.40 billion

** At least three brokerages raise PTs on RMD after results

** Of 21 brokerages tracking the stock, 13 rate it "buy" or higher, seven "hold" and one "strong sell"; their median PT is $300 - LSEG-compiled data

** Up to last close, RMD gained 7% YTD

(Reporting by Avinash P in Bengaluru)

((Avinash.P@thomsonreuters.com;))

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