Jefferies Financial Group Downgrades Q4 2023 Earnings Estimates for ResMed

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RESMED ($NYSE:RMD): With its innovative products and services, ResMed Inc. focuses on improving patient outcomes, reducing the impact of chronic disease and the cost of care. The research note issued by Jefferies Financial Group analysts revealed that their previous estimates for Q4 2023 earnings have been lowered due to an expected slowdown in the industry. This decrease in earnings estimates is likely to have an effect on ResMed Inc.’s stock price, as investors may be more hesitant to invest in the company due to the uncertain outlook. Despite this, analysts from Jefferies Financial Group remain positive on ResMed Inc., noting that the company’s strong position in the market should ensure that it remains an attractive investment opportunity for the long term.

Earnings

Jefferies Financial Group has recently downgraded its estimates for ResMed Inc.’s fourth quarter earnings for the fiscal year ending 2023. According to ResMed Inc.’s earnings report for Q3 of FY2023, ending March 31 2023, the company earned a total revenue of 1116.9M USD and a net income of 232.5M USD. Compared to the previous year, this represents a 29.2% increase in total revenue and a 29.9% increase in net income. Over the last three years, ResMed Inc.’s total revenue has grown from 768.77M USD to 1116.9M USD.

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Resmed Inc. More…

Key Ratios Snapshot

Some of the financial key ratios for Resmed Inc are shown below. More…

Share Price

Following the news, the stock opened at $239.3, but closed at $234.4, down 2.7% from its last closing price of $241.0. Though the downgrade came as a surprise to some investors, the impact of Jefferies’ rating was clear in the stock’s downward trend on Monday. Live Quote…

Analysis

We at GoodWhale recently performed an extensive analysis of RESMED INC‘s fundamentals. Through our Risk Rating tool, we concluded RESMED INC is a medium risk investment in terms of financial and business aspects. We have detected 1 risk warning in the balance sheet. If you’re interested to learn more about what these risk warnings are, register with us on our website to check it out. More…

Peers

ResMed’s competitors include Natus Medical Inc, Sanara MedTech Inc, and Avita Corp.

– Natus Medical Inc ($NASDAQ:SMTI)

As of 2022, Sanara MedTech Inc has a market cap of 227.36M and a Return on Equity of -22.91%. The company is a medical device company that develops and manufactures products for the treatment of chronic wounds and other conditions.

– Sanara MedTech Inc ($TPEX:4735)

Avita Corp is a biotechnology company that develops, manufactures, and markets products based on regenerative medicine. The company’s products are used to treat a variety of conditions, including burns, wounds, and skin diseases. Avita’s products are sold in over 30 countries worldwide. The company has a market cap of 1.21B as of 2022 and a return on equity of 9.62%.

Summary

ResMed Inc. is an American publicly-traded company that specializes in manufacturing medical devices and software solutions for the diagnosis, management, and treatment of sleep apnea, COPD, and other respiratory conditions. Recently, analysts at Jefferies Financial Group have decreased their Q4 2023 earnings estimates for ResMed. Investors interested in ResMed should be aware of the current market forecast and potential risks associated with investing in the company. It is recommended to thoroughly research the company’s financial position and recent performance prior to making any investment decisions.

Additionally, analyzing industry trends, such as shifting consumer demand and new technological developments, can help investors form a more complete picture of the company’s potential. Keeping an eye on recent news developments surrounding ResMed can also help investors stay informed on any new information coming out that could affect their investment.