BUY - ResMed Inc (RMD)
*** GENERAL AVICE ONLY***
Trade Date: 26/10/2023
Recommendation
Entry price: 22.40
Target Price: 24.45
Stop Loss: 21.5 (10% Trailing Stop)
Rationale
As outlined in our article for Livewire, RMD has been heavily sold on the speculated affect of weight loss drugs will have on the sleep apnea market-size. Only 18% of sleep apnea patients condition is caused by obesity and of those patients, many will not be able to source or afford drugs like Ozempic with a global shortage expected until 2025.
Resmed will deliver its quarterly update tomorrow and it isn’t expected that an exodus of patients priced into RMD will flow though to this quarters results (if ever)
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.