Needham & Company Reiterate Buy Following ResMed (RMD) Investor Meeting

Needham & Company reiterates a Buy rating and $65.00 price target on ResMed (NYSE: RMD) following an investor meeting on June 5th. RMD wants to focus on maintaining leadership in SDB industry, as well as scale up respiratory care market and expand into new markets.

Analyst Mike Matson commented, "Management laid out its "Three Horizons" growth strategy at its 6/5/15 investor meeting. Horizon 1 is to maintain leadership in the sleep-disordered breathing (SDB) industry. Horizon 2 is to scale up its respiratory care (including chronic obstructive pulmonary disease or COPD and neuromuscular disease) and its emerging markets businesses. And Horizon 3 is to expand into new markets, including heart failure (HF), coronary artery disease (CAD), and atrial fibrillation (AF). From a financial standpoint, management expects to continue to deliver operating leverage and return cash to shareholders through the dividend and additional share repurchases. We expect RMD's product cycle to continue to drive strong revenue growth and its margins to stabilize and begin to improve, and we reiterate our Buy rating.”

For an analyst ratings summary and ratings history on ResMed click here. For more ratings news on ResMed click here.

Shares of ResMed closed at $59.66 yesterday.

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