RMD has been rerated on the downside following a disappointing earnings report with weaker margins the catalyst for the selling as the stock was priced for expansion! However while the result wasn’t good the selling gathered momentum as investors’ focused on weight loss “miracle drugs” reducing the demand for RMD’s sleep disorder products – the negative sentiment feels entrenched and our concern is it may take months to dissipate.
- A poor result which has been compounded by negative sentiment from Ozempic – we hold RMD in our Flagship Growth Portfolio
MM is cautiously optimistic towards RMD
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