Does MM believe ResMed (RMD) has been handled harshly post-result?
Resmed have been roughly handled after the results, brokers still appear to be optimistic. What say MM
The Latest Q&A
Answer
Hi Peter,
Unfortunately, its inevitable in a diverse portfolio that we will experience some hits and misses through reporting season with RMD definitely the latter, and not surprisingly its generated some questions long the way.
The markets are not agreeing with the optimistic brokers, and like other stocks that have disappointed, the selling has continued for multiple days. It was not until Friday that we stepped up and increased our weighting to 5%, believing the selling is overdone. This may prove premature, however RMD is now back to its cheapest level since COVID – we discuss RMD further in another question today.
