Movement Alert｜ResMed Falls 5.61% in Regular Trading, Citi Downgrades Rating to Neutral Triggering Sell-Off

Market Focus07-13

On July 13, ResMed fell 5.61% in regular trading, trading at $196.575/share, with turnover of $33.59 million. The decline was triggered by Citi downgrading ResMed from Buy to Neutral with a price target of AU$34, marking the most impactful call among a series of recent institutional downgrades.

Citi had previously cut its U.S. price target from $340 to $270 in mid-June while maintaining a Buy rating. The further downgrade to Neutral reflects a substantive deterioration in the firm's outlook for the company. This follows Morgan Stanley's June downgrade to Equal Weight with a $230 target, citing dual headwinds from GLP-1 weight-loss drugs and competitive re-entry constraining growth. Jefferies also recently trimmed its target to $225 from $240, while RBC Capital cut to $276 from $321. The FactSet consensus mean target has declined from over $307 earlier this year to approximately $269, signaling broad institutional reassessment of ResMed's medium-term earnings trajectory despite the company beating Q3 fiscal estimates in late April.

(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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