Movement Alert｜ResMed Falls 5.19% in Pre-Market Trading, Citi Downgrades Rating to Neutral

Market Focus07-13

On July 13, ResMed fell 5.19% in pre-market trading, trading at $193.01/share, with turnover of $373,200. The decline was triggered by Citi downgrading ResMed from Buy to Neutral, setting a price target of AU$34, marking the most impactful among a series of recent institutional downgrades.

The Citi downgrade follows a wave of target price reductions across multiple brokerages. Jefferies cut its U.S. target from $240 to $225 on July 10, while Jarden lowered its Australian target from AU$42.70 to AU$40.20 on July 9. In June, Morgan Stanley had already downgraded the stock to equal weight from overweight, slashing its target from $286 to $230, citing dual headwinds from GLP-1 weight-loss drugs and competitive re-entry pressuring growth prospects. Morgan Stanley estimated fiscal 2027 net income growth at approximately 5%, well below the company's three-year EPS CAGR of 19%.

Additionally, ResMed recently agreed to sell its MatrixCare and HealthCare First businesses for $490 million, significantly below the $876 million originally paid, reflecting challenges in its software segment. The company is scheduled to report Q4 fiscal 2026 earnings on August 6.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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