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RBC’s outlook for ResMed is positive due to several factors, including the low OSA penetration rates, improvements in the supply chain of component parts, a backlog of rePAP customers, and the company’s strong market position. However, the stock is trading at the lower end of its historical multiples.
In terms of the upcoming Q4/23 results, scheduled to be announced on Thursday, RBC Capital expects the company to post robust revenue growth, although earnings might slightly miss the consensus estimates. Nevertheless, the overall report is expected to be strong with substantial cash flow generation and a positive outlook, according to RBC.
