ResMed initiated with a Buy at Goldman Sachs

Goldman Sachs initiated coverage of ResMed (RMD) with a Buy rating and A$48.90 price target The firm says its Buy thesis is based on “robust” continuous airway pressure therapy patient growth, assisted by growing awareness on obstructive sleep apnea, market share gains, and operating margin expansion driven by product mix and solid cost management. Following “stellar” U.S. devices growth, ResMed’s key investments as part of the company’s 2030 strategy are set to accelerate growth across the rest of its portfolio, the analyst tells investors in a research note.