- ResMed Inc (NYSE:RMD) posted Q4 sales of $914.7 million, +4% Y/Y (+8% on a constant currency basis), beating the consensus of $912.97 million.
- Adjusted EPS reached $1.49, up from $1.35 a year ago.
- The company also increased its quarterly dividend to $0.44 from $0.42 per share.
- Keybanc reiterates the Overweight rating and price target of $276.
- The analyst says that after resetting near-term supply chain expectations, visibility appears to be increasing and management’s tone seemed more optimistic around key moving pieces to Keybanc’s thesis, including:
- Q4 constant currency growth exceeded Keybanc’s expectations, while FX limited more upside.
- The management expects a sequential improvement in device production volumes through FY23 and an incremental step in masks & accessories growth.
- Koninklijke Philips NV’s (NYSE: PHG) recall issues continue to present opportunities for ResMed, and the company may finally be in a position to address more fully the opportunities presented by PHG’s recall.
- Price Action: RMD shares closed down 0.42% at $239.85 on Friday.
Despite Microsoft, Google’s ‘Spectacular Quarters,’ Billionaire ‘Bond King’ Bill Gross Warns Against Tech, Advocates For Value Stocks
Bill Gross, known as the "bond king," advises investors to avoid tech stocks despite strong quarters from Microsoft and Alphabet, recommending value stocks instead, while questioning the appeal of bonds with current yields.
