The RMD story has been well documented over recent weeks as the combination of Ozempic and a disappointing result has seen the stock plunge ~30%. The uncertainty that the weight loss drug (actually for diabetes) has created is weighing heavily on potentially impacted stocks, with the true impact likely to take years to unfold; hence, we can see RMD trading on a lower multiple than it has in the past, with our best guest suggesting a trading range between $20 and $25 over the coming months.
- We believe the sell-off in RMD is overdone, but we aren’t planning to increase our position – MM owns RMD in our Active Growth Portfolio.
MM remains long and cautiously bullish toward RMD
Add To Hit List
