The general evaluation of RESMED INCO. (AU), a company active in the Medical Equipment industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 2 out of 4 possible stars while its market behaviour can be considered as defensive. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date February 8, 2022, the closing price was AUD 33...
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Summary Marketline's GI Dynamics, Inc. Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by GI Dynamics, Inc. since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic a...
Global equities rallied by 3.0% after the US and China announced they were close to formalising a trade deal. Emerging markets rallied strongly, with the global EM index up by 7.5% supported by strong gains in Argentina (21%), China B (8.4%), Russia (7.7%), Brazil (6.8%) and China A (6.2%). Consumer Staples (-8.1%), Communication Services (-7.8%), Property (-4.8%) led the declines, while Materials (1.5%) and Utilities (0.8%) were the only sectors to gain ground. The biggest hurdle for invest...
We expect the Australian equity market to deliver low-mid single digit returns next year. Our Dynamic Asset Allocation preference is a mild overweight to Growth assets, given the relative attractiveness of equities to both bonds and credit. In Fixed Income we prefer Global markets over Australia even though the RBA has probably more work to do. In the ASX, the Risk: Reward skew is tilted more positive for Resources than Banks, particularly in H1 as the global economy shows signs of recover...
The ASX 200 fell by 0.4% and underperformed global markets after several strong months of outperformance and earnings downgrades. In net terms the market was upgraded, although this was mainly because there were less downgrades than normal and not because analysts were becoming more positive on the earnings outlook. IT (-3.9%), Financials (-2.8%), Consumer Staples (-2.2%) and Materials all underperformed. Australia remains expensive with the earnings bar now lowered to a level more achieva...
Despite many Australian-listed healthcare stocks we cover having substantial revenue exposure to the U.S., the latest potential regulatory changes in that market pose a low risk to our fair value estimates. The cost of and access to healthcare is an emotive topic among U.S. voters and hence at the forefront of political agendas. Of relevance to the Australian companies that operate in the U.S. is the draft Lower Health Care Costs Act, or LHCCA, which aims to improve transparency in the healthcar...
Despite many Australian-listed healthcare stocks we cover having substantial revenue exposure to the U.S., the latest potential regulatory changes in that market pose a low risk to our fair value estimates. The cost of and access to healthcare is an emotive topic among U.S. voters and hence at the forefront of political agendas. Of relevance to the Australian companies who operate in the U.S. is the draft Lower Health Care Costs Act, or LHCCA, which aims to improve transparency in the healthcare...
We raise narrow-moat ResMed’s fair value estimate to USD 104 from USD 101 or AUD 14.90 from AUD 14.40 for the Australian listing. The increase is a function of tempering our medium-term sales forecasts offset by lowering our cost of equity assumption to below average based on a reassessment of the resilience and low systemic risk of the business. ResMed’s strategic direction of creating connected devices that allow patients, medical practitioners and payors to get both clinical and complianc...
We raise narrow-moat ResMed’s fair value estimate to USD 104 from USD 101 or AUD 14.90 from AUD 14.40 for the Australian listing. The increase is a function of tempering our medium-term sales forecasts offset by lowering our cost of equity assumption to below average based on a reassessment of the resilience and low systemic risk of the business. ResMed’s strategic direction of creating connected devices that allow patients, medical practitioners and payors to get both clinical and complianc...
We raise narrow-moat ResMed’s fair value estimate to USD 104 from USD 101 or AUD 14.90 from AUD 14.40 for the Australian listing. The increase is a function of tempering our medium-term sales forecasts offset by lowering our cost of equity assumption to below average based on a reassessment of the resilience and low systemic risk of the business. ResMed’s strategic direction of creating connected devices that allow patients, medical practitioners and payors to get both clinical and complianc...
Growth stocks have again out-performed Value since the start of the year supported by declining bond yields and solid EPS growth. In this note, we cast our eye over a selection of 55 Growth stocks constrained by a 12-month forward PE multiple of 18 and long-term consensus EPS growth of 7.5%. We then compare each stock using their cash conversion, asset turnover, reinvestment rate, net debt, EBITDA margin and Good Will. Within the group of stocks with a high PE and strong ea...
Shares in ResMed are beginning to screen as overvalued following the release of third-quarter results. Revenue growth of 11% in the nine months ended March is broadly in-line with our updated full-year forecast of 12%. We pull back our forecasts for the core devices business, which slightly trailed our expectations, but our long-term estimates remain intact. ResMed has carved a narrow economic moat and commands a dominant position in sleep apnoea. We expect the firm can continue to bolster its s...
Shares in ResMed are beginning to screen as overvalued following the release of third-quarter results. Revenue growth of 11% in the nine months ended March is broadly in-line with our updated full-year forecast of 12%. We pull back our forecasts for the core devices business, which slightly trailed our expectations, but our long-term estimates remain intact. ResMed has carved a narrow economic moat and commands a dominant position in sleep apnoea. We expect the firm can continue to bolster its s...
Shares in ResMed are beginning to screen as overvalued following the release of third-quarter results. Revenue growth of 11% in the nine months ended March is broadly in-line with our updated full-year forecast of 12%. We pull back our forecasts for the core devices business, which slightly trailed our expectations, but our long-term estimates remain intact. ResMed has carved a narrow economic moat and commands a dominant position in sleep apnoea. We expect the firm can continue to bolster its s...
We retain our USD 101 fair value estimate for narrow-moat-rated ResMed following the release of second-quarter results to December 2018. Strong momentum in mask sales continued from the first quarter, while device sales, particularly outside the Americas, disappointed. Although the strong sales growth in the firm's small software-as-a-service business was impressive, ResMed's earnings and moat are underpinned by its core sleep apnoea business, which enjoys switching costs and a commanding market...
We retain our USD 101 fair value estimate for narrow-moat-rated ResMed following the release of second-quarter results to December 2018. Strong momentum in mask sales continued from the first quarter, while device sales, particularly outside the Americas, disappointed. Although the strong sales growth in the firm's small software-as-a-service business was impressive, ResMed's earnings and moat are underpinned by its core sleep apnoea business, which enjoys switching costs and a commanding market...
We retain our USD 101 fair value estimate for narrow-moat-rated ResMed following the release of second-quarter results to December 2018. Strong momentum in mask sales continued from the first quarter, while device sales, particularly outside the Americas, disappointed. Although the strong sales growth in the firm's small software-as-a-service business was impressive, ResMed's earnings and moat are underpinned by its core sleep apnoea business, which enjoys switching costs and a commanding market...
We retain our fair value estimate of USD 101 on narrow-moat ResMed following the in line results for the first quarter of fiscal 2019. Our fair value estimate per CDI is unchanged at AUD 14.20, based on an AUD/USD exchange rate of 0.71. At current prices, shares are trading close to our intrinsic assessment. Global sales grew by 12.3% in the first quarter, tracking our full-year fiscal 2019 estimate of 12.1%. The growth was driven by both masks and devices, in the Americas as well as the rest of...
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