ResMed

What a difference a week makes. The market couldn’t get enough of ResMed after its excellent interim result last Friday (which prompted an upgrade to Long Term Buy from us), but it’s giving it all back today after overnight news on round two of the US Government's Medicare competitive bidding program. Medicare is a large government-administered health insurer in the United States, covering about 15% of all Americans. Over the past couple of years it has been shifting the way it pays for ‘durable medical equipment’ (like ResMed’s flow generators) to a competitive bidding process, whereby medical equipment suppliers...

What a difference a week makes. The market couldn’t get enough of ResMed after its excellent interim result last Friday (which prompted an upgrade to Long Term Buy from us), but it’s giving it all back today after overnight news on round two of the US Government's Medicare competitive bidding program.

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