ResMed Inc

RMD: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$642.00	Tkrqy	Lszgjmbt

ResMed: Market Concerns Regarding Weight Loss Drugs Are Overblown

Shane Ponraj

Jul 1, 2024

Eli Lilly released results from its SURMOUNT-OSA clinical trial, which have reignited concerns that GLP-1 drugs may disrupt the sleep apnea industry. However, we think these concerns are overblown. Shares in narrow-moat ResMed remain undervalued versus our unchanged USD 264 fair value estimate, or AUD 40 per CDI at current exchange rates.

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