Supply chain issues & chip shortages have hurt RMD in the short term, however, these influences will pass, and the developer of sleep disorder treatments will fill the almost ‘unlimited’ demand for their products as described by their CEO Mick Farrell on a recent earnings call. With a 10-15% earnings growth rate likely over the next 3 years, the 25% pullback in the stock from 2021 highs has MM firmly in the accumulation camp. While we already own the stock with a 6% portfolio weighting in our Flagship Growth Portfolio, if we didn’t we would be accumulating around current levels leaving some room to add to the position if it dipped to $30. This is a high-quality, defensive healthcare company we like.
MM is bullish RMD
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