ResMed (RMD) Shares Recommendation

ResMed (RMD) have a maintained Outperform shares recommendation and a 12 month share price target of $7.15 from stock analyst, Macquarie Research Equities (MRE). MRE have raised the possibility of the price target being further lifted by additional quarterly results showing continued market share gains in the US and recovery of European operation, underpinned by steady and accelerating industry growth. The stock analyst expects continued ResMed innovation and the recent recall by their competitors are sure to drive further market share to the company. ResMed (RMD) yesterday reported first quarter 07 sales of US$163.6m, up 28.7% on pcp. Adjusted net profit was up 39.8% to US$28.9m, MRE forcasts of US$27.7m. The shares rallied over 5% on the news, raising the stock an impressive 13% for the month.

Resmed Limited is listed on the Australian Stock Exchange (ASX) under stock code RMD. You can view their investor website here. RMD was listed on the ASX on 25 November, 1999. Dr Peter Farrell is the current CEO for ResMed. The company was a Loser of the Week back in August 2006. ResMed is a leading developer, manufacturer and marketer of products for the screening, treatment and long-term management of sleep-disordered breathing (SDB) and other respiratory disorders. Find out the meaning of the recommendations in this primer. Read previous news and stock recommendations for ResMed (RMD). Browse for other stockbroker recommendations. Check your charts and good luck with your share trading!