ResMed takes a breather

ResMed had a poor first quarter, but disruptions in the US should soon be overcome and new products should put it back on the front foot.

Investors have got used to pleasant surprises from ResMed results, so the savage reaction to the disappointing first-quarter performance is unsurprising if somewhat excessive. The stock fell 8%, taking it back to where it stood when we wrote up the final result in ResMed: Result 2013 on 2 Aug 13 (Buy – $5.46), despite a 7% rise in the All Ords.

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