Jefferies Previews ResMeds' Earnings (RMD)

Jefferies is out with a research report on ResMed Inc. RMD, as it previews the company's earnings. It has a Hold rating and a $30 price target on shares. In a note to clients, Jefferies writes, "Mixed drivers for generator volumes. With two consecutive Qs of moderating NA generator growth, we expect a fair amount of focus on RMD's upcoming call to surround generator volumes. We would not be surprised to see underwhelming growth vis-à-vis historical performance in US generator volumes for the Q but a second consecutive quarter of low to mid single digit growth is baked into expectations. We anticipate the recent S9 Bi-Level VPAP series introduction to drive share recovery in F12 growth but we are not confident that RMD will experience the historical uplift that the S8 Series Bi-Level launch generated." Shares of RMD gained 45 cents yesterday to close at $32.20, a gain of 1.4%.