Sell - Stop Loss - ResMed Inc (RMD)
*** GENERAL AVICE ONLY***
Trade Date: 27/10/2023
Recommendation
Entry price: 22.40
Stop Loss: 21.5 (10% Trailing Stop)
Rationale
ResMed has reported growing revenues in its first quarter report, but costs have squeezed the health tech’s margin’s tighter. Revenue increased by 16 per cent to $US1.1 billion ($A1.74 billion) in the three months to September 30, compared to last year’s same quarter.
However, the company’s gross margin contracted 250 basis points to 54.4 per cent. The company attributed to margin squeeze to costs associated with a field safety notification on one of its products as well as higher component and manufacturing costs. The ResMed board declared a quarterly cash dividend of US48¢ per share
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.