RMD.ASX traded at our $9.00 profit target today. The stock has put on 20% since our buy trigger. Patience has paid off here and waiting for todays earnings result has proven to be the right approach.
ResMed’s annual profit for the year to June 30 was $US352m on annual revenue of $US1.8b, up from $US1.7b. Revenue for the fourth quarter lifted 15 per cent to $US519m boosted by the acquisition in healthcare software group Brightree. Quarterly dividend raised to 33 US cents per share.
Our algorithm engines will continue to track RMD.ASX for future buying opportunities and I’ll be sure to keep you informed.
Enjoy the proceeds of this quick profit!
Author: Leon Hinde
Leon has been working in the financial services industry for 18 years in management and advisory roles. Leon has extensive experience in general advice and dealings involving securities and derivative financial products.
PS 146 Securities & Derivatives, ADA 1 & 2 accreditation, Responsible Manager Certificate. Leon is authorised to provide financial product advice and deal with respect to the following financial products:
· Deposit Products
· Interest in managed investment schemes; and
· Government debentures, bonds and stocks