ASX-listed ResMed slips after Jarden cuts PT

ReutersApr 16, 2025 3:51 AM

ASX-listed shares of medical devices manufacturer ResMed RMD.AX fall 1.2% to A$33.42

Jarden cuts price target to A$39.97 from A$41.48, maintains "overweight" rating on stock

New price target represents an upside of 18.2% to stock's last close

Brokerage forecasts RMD's third-quarter adjusted NPAT at $362.9 million, up 15.4% pcp, despite noting a slowdown in U.S. device sales

Expects RMD flipping to net cash position of around $66 million in third quarter, which could allow co to be more definitive with its buy-back strategy in future

Stock down 9.1% YTD

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