How Sleep Device Player ResMed Is Gaining Philips' Market Share In Flow Generator Market - Analysts Weigh In
Portfolio Pulse from Nabaparna Bhattacharya
ResMed Inc. (RMD) is gaining market share in the flow generator market due to Koninklijke Philips N.V.'s (PHG) product recall. ResMed's Q1 revenue increased by 16% to $1.1 billion. Needham analyst Mike Matson reiterated a Buy rating on ResMed with a price target of $180, while Oppenheimer analyst Suraj Kalia also reiterated an Outperform rating with a price target of $175. However, ResMed's shares are trading lower by 3.03% to $134.53.
October 27, 2023 | 7:34 pm
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POSITIVE IMPACT
ResMed is gaining market share due to Philips' product recall. Its Q1 revenue increased by 16% to $1.1 billion. However, its shares are trading lower by 3.03% to $134.53.
ResMed is directly benefiting from Philips' product recall, which has increased its market share and revenue. However, despite positive analyst ratings, its stock price is currently down, which may be due to broader market trends or investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Philips' product recall has led to a loss in market share, benefiting competitors like ResMed.
Philips' product recall has negatively impacted its market share in the flow generator market. This has benefited competitors like ResMed, which have been able to capture a larger share of the market.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80