Global leader in sleep apnoea RMD delivered a solid result in March here, and importantly hasn’t delivered any downgrades. However, the stocks still fallen ~40% over the last year being caught up in the SaaSocalypse, the one part of its business that’s struggled to meet expectations.
NB A SaaS (Software-as-a-Service) business is one that delivers software via the cloud on a subscription basis, generating recurring revenue from customers who pay to access the platform. In the case of RMD, the SaaS side of ResMed is primarily used by sleep clinics, doctors, hospitals, homecare providers and equipment distributors to monitor and manage patients remotely.
- We can see RMD bouncing towards $30, but we’re unlikely to re-enter the stock in the near future.
MM is cautiously bullish towards RMD around $28
Add To Hit List
