ResMed Buy price raised

Things are on the up for this provider of treatments for sleep disordered breathing and we're raising our Buy price.

In ResMed set to awaken on 14 Oct 14 (Buy – $5.44), we picked out three factors behind ResMed's weak 2014 performance, which are all set for improvement – the destabilisation of the US market due to Medicare competitive bidding, better competitor products and a higher Australian dollar. The first-quarter result gave us further comfort on the first two of those (see ResMed Q1 2015 result from 24 Oct 14 (Buy – $5.68) and the Aussie dollar has now fallen almost 10% from US$0.94 at the end of June. On top of all this, there's been some hype about the company's new consumer product, the S sleep monitoring device, which this week went on sale in the Apple Store.

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