ResMed downgraded to Equal Weight from Overweight at Morgan Stanley » 16:2908/0608/06/20
Morgan Stanley analyst…
Morgan Stanley analyst Sean Laaman downgraded ResMed to Equal Weight from Overweight with a A$25.40 price target.
ResMed downgraded to Neutral from Buy at Goldman Sachs » 09:3908/0608/06/20
Goldman Sachs analyst…
Goldman Sachs analyst Chris Cooper downgraded ResMed to Neutral from Buy with a price target of A$26.40, down from A$30.20. While he still has a positive view on mid to long-term fundamentals, he has concerns on short-term challenges and the stock's valuation, Cooper tells investors.
ResMed price target raised to $212 from $200 at Oppenheimer » 09:1408/0608/06/20
Oppenheimer analyst Suraj…
Oppenheimer analyst Suraj Kalia raised the firm's price target on ResMed to $212 from $200 and keeps an Outperform rating on the shares. The analyst notes that ResMed reported Q4 revenue slightly higher than consensus estimate at $752M, and roughly in line with his $770M estimate.
ResMed reports Q4 EPS $1.33, consensus $1.08 » 16:2408/0508/05/20
Reports Q4 revenue…
Reports Q4 revenue $770.3M, consensus $746.9M. Mick Farrell, ResMed's CEO, said, "Throughout our fiscal fourth quarter, we continued to support the COVID-19 pandemic response through increased manufacturing of our ventilators, including bilevels, and ventilation mask systems while also supporting our customers with digital health solutions and other innovative tools to enable remote care for patients. Looking ahead, we are confident in our ability to navigate through the ongoing challenging clinical and economic environment to deliver for all our stakeholders. Sleep labs and physician practices are reopening across many geographies, and we're seeing accelerated adoption of digital health solutions which supports our long-term strategy. We remain vigilant and thoughtful about the outlook for our business as we continue to serve our customers, and we believe our strong foundation will accelerate our growth over the longer term."
|Over a week ago|
ResMed downgraded to Underperform from Buy at BofA » 07:3808/0308/03/20
BofA analyst Lyanne…
BofA analyst Lyanne Harrison downgraded ResMed to Underperform from Buy with an $180 price target. While "more bullish than the Street" in terms of both Q4 revenue and EPS as Harrison expects lower CPAP device sales will be propped up by ventilator sales, the analyst cites valuation for the change in rating.
|Over a month ago|
Morgan Stanley upgrades ResMed on faster shift to remote patient monitoring » 15:1506/1706/17/20
As previously reported,…
As previously reported, Morgan Stanley analyst Sean Laaman upgraded ResMed to Overweight from Equal Weight with a price target of $176, up from $148. COVID-19 has led to regulatory changes within healthcare, including CMS introducing reimbursement that should accelerate the adoption of Remote Patient Monitoring technologies, such as ResMed's Propeller Health, Laaman tells investors. He sees ResMed having a strong competitive position in what is likely to become a high-growth market given current device compatibility and relationships, its multiple pharmacy agreements and its expertise in patient connectivity, the analyst added.
ResMed upgraded to Overweight from Equal Weight at Morgan Stanley » 15:0406/1706/17/20
Morgan Stanley analyst…
Morgan Stanley analyst Sean Laaman upgraded ResMed to Overweight from Equal Weight.
ResMed subsidiary receives 510 clearance from FDA for digital health platform » 08:0405/2605/26/20
Propeller Health, a…
Propeller Health, a wholly owned subsidiary of ResMed, announced it has received 510 clearance from the FDA to connect patients using the Symbicort Inhaler to its digital health platform. Propeller's platform already connects to the majority of inhalers used by asthma and COPD patients, as well as many generic equivalent inhalers.
|Over a quarter ago|
ResMed accelerates release of ventilator telemonitoring platform amid COVID-19 » 15:0605/0505/05/20
Earlier on Tuesday,…
Earlier on Tuesday, ResMed announced it had launched cloud-based remote monitoring software for ventilators and Lumis bilevel devices across Europe, via its AirView platform. With AirView, clinicians and care providers can remotely monitor their patients' respiratory rate and SpO21, or blood oxygen saturation, two key indicators that should be monitored to track changes in a respiratory patient's condition. The digital health platform can work via a connectivity module with any Stellar or Astral ventilator in Europe. Lumis bilevel devices have a built-in cellular connection to AirView. Amidst the COVID-19 crisis, there are many other patients who rely on ResMed ventilators every day to assist their breathing. A large number of these patients require regular check-ups and support from hospitals, physicians, and homecare providers. To protect patients and medical staff as well as increase the capacity of the health system, innovations such as telehealth and telemonitoring have become critical services. "As a result of the current crisis, we accelerated the development and release of these new features by several months," said Odile Bigaignon, ResMed's European vice president of Respiratory Care Marketing. "Through remote telemonitoring, we want to help clinicians and care providers maintain their quality of care for patients that they cannot physically see during this crisis, as well as to provide an additional layer of safety for both provider and patient by helping them to maintain social distancing."
ResMed upgraded to Outperform on ventilator boost at Oppenheimer » 07:5905/0105/01/20
As previously reported,…
As previously reported, Oppenheimer analyst Suraj Kalia upgraded ResMed to Outperform from Perform with a $200 price target following the company's report of Q3 revenue and beat the firm's and the consensus estimate. Continued growth was seen in its core business, but "more importantly" there was a nice pull-through demand from ventilator production for COVID-19, noted Kalia. Not only does COVID-related ventilator demand suggest a strong offset to the core sleep business, COVID-19 "has shone a favorable light on respiratory health worldwide," and therefore ResMed solutions, contends Kalia.