RMD - ResMed posts biggest intraday loss in nearly 11 months on supply issues

ResMed (NYSE:RMD -7.2%) has recorded the biggest intraday loss since April 2021 on Wednesday after KeyBanc flagged supply issues faced by the San Diego, California-based Respiratory device maker. According to analyst Matthew Mishan, ResMed (RMD) management has said that the company continues to witness supply chain constraints. It “could be more difficult to reach its expectation of $300M-$350M in incremental device revenue,” in 2022 following a product recall of a rival, Bloomberg reported on Wednesday quoting Mishan. KeyBanc has an Overweight rating on ResMed (RMD) with a $302 target compared to the average Street target of $265.71 per share. Over the past 12 months, ResMed (RMD) has well outperformed its rival Philips (PHG), benefiting from a product recall issued by the Dutch medical device maker in mid-2021.

For further details see:

ResMed posts biggest intraday loss in nearly 11 months on supply issues