RMD has rallied from $13.75 to $14.75 following last weeks reported strong 1Q19 result, which included EBIT +28% on the same time last year.
The company also delivered robust top-line growth, which came in ahead of market expectations. Gross margins held at 58+%.
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We anticipate EPS growing from US$3.70 in FY19 to US$4.50 in FY21 and revenue growing from US$2.9 billion to US$3.5 billion over the same period.
Resmed
