RMD - How Sleep Device Player ResMed Is Gaining Philips' Market Share In Flow Generator Market - Analysts Weigh In | Benzinga
Needham analyst Mike Matson reiterated a Buy rating on ResMed Inc. (NYSE: RMD) with a price target of $180.
ResMed registered a street-beating performance in the first quarter, where revenue increased by 16% to $1.1 billion.
ResMed is benefiting from the Koninklijke Philips N.V.'s (NYSE: PHG) flow generator recall, according to the analyst.
With Philips out of the flow generator market, ResMed has had more demand than it could meet, given its supply chain challenges.
However, its supply chain is beginning to improve, and ResMed is capturing an increasing portion of Philips' market share.
While ...