ResMed's 3Q Profit to Beat Market Expectations -- Market Talk

Dow Jones04-19

0026 GMT - Breathing-tech provider ResMed's 3Q profit is likely to beat market expectations, Macquarie analysts tell clients in a note. They anticipate a March-quarter net profit of US$292 million on revenue of US$1.19 billion, compared with an average analyst forecast of US$287 million on revenue of US$1.18 billion. Their forecast implies a gross margin of 57.2%, up 110 basis points on a year earlier, but 10 basis points lower than what the broader market is looking for. Looking further ahead, the Macquarie analysts raise their EPS forecasts for FY 2024, FY 2025 and FY 2026 by 2%, 5% and 4%, respectively, to reflect improved device sales on rival Philips's U.S. recall issues. Macquarie raises the stock's target price 2.5% to A$34.30 and keeps an outperform rating. Shares are up 1.8% at A$28.13. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

April 18, 2024 20:26 ET (00:26 GMT)

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They anticipate a March-quarter net profit of US$292 million on ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4504","symbol_name":"桥水持仓","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2428205405","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2428205405","pubTimestamp":1713486360,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0026 GMT - Breathing-tech provider ResMed's 3Q profit is likely to beat market expectations, Macquarie analysts tell clients in a note. 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