Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/cochlear-ltd" target="_blank" data-smartkarma-citation="entities:918:1" rel="noopener">Cochlear Ltd (COH AU)</a> shares rallied 30%+ over the last six months. Shares are trading at NTM P/E of 51.3x, versus other Australia-listed medical devices companies’ P/E of 23–32x.</li>
<li>The underlying business strength depicted by strong financial performance and guidance raise, and superior product offerings justify the pricey valuation.</li>
<li>Cochlear lifted FY24 net profit guidance to A$385–400M (+26–31% YoY) from A$355–375M. The company expects FY24 cochlear implant volume growth of 10–15% YoY.</li>
</ul>



Cochlear Ltd (COH AU) shares rallied 30%+ over the last six months. Shares are trading at NTM P/E of 51.3x, versus other Australia-listed medical devices companies’ P/E of 23–32x.
The underlying business strength depicted by strong financial performance and guidance raise, and superior product offerings justify the pricey valuation.
Cochlear lifted FY24 net profit guidance to A$385–400M (+26–31% YoY) from A$355–375M. The company expects FY24 cochlear implant volume growth of 10–15% YoY.


Cochlear Ltd (COH AU): Underlying Business Strength Justifies Superior Valuation

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>In the Q2 FY2024 earnings for ResMed, the company registered strong execution across its entire business, reflecting in double-digit top and bottom-line growth.</li><li>The results were primarily driven by double-digit global growth in both devices and its Software as a Service (SaaS) business.</li><li>ResMed is addressing a significant problem considering there are over 2 billion people worldwide suffering from sleep apnea, chronic obstructive pulmonary disease, respiratory insufficiency resulting from neuromuscular disease, or insomnia.</li></ul>

In the Q2 FY2024 earnings for ResMed, the company registered strong execution across its entire business, reflecting in double-digit top and bottom-line growth.The results were primarily driven by double-digit global growth in both devices and its Software as a Service (SaaS) business.ResMed is addressing a significant problem considering there are over 2 billion people worldwide suffering from sleep apnea, chronic obstructive pulmonary disease, respiratory insufficiency resulting from neuromuscular disease, or insomnia.

ResMed Inc: Potential expansion of sleep awareness and population health management strategies to boost growth! - Major Drivers

<ul><li>In the first quarter of fiscal year 2024, ResMed Inc. had robust results across its business segments, with significant double-digit growth in masks, SaaS, and devices.</li><li>Notably, the masks and accessories business achieved a remarkable 21% year-over-year growth, even in a competitive market.</li><li>The company's 32% year-over-year growth in SaaS business further solidifies its global leadership in healthcare, providing innovative digital health solutions and patient-centered care in a dynamic healthcare landscape.</li></ul>

In the first quarter of fiscal year 2024, ResMed Inc. had robust results across its business segments, with significant double-digit growth in masks, SaaS, and devices.Notably, the masks and accessories business achieved a remarkable 21% year-over-year growth, even in a competitive market.The company's 32% year-over-year growth in SaaS business further solidifies its global leadership in healthcare, providing innovative digital health solutions and patient-centered care in a dynamic healthcare landscape.

ResMed Inc.: A Leader In Sleep Apnea Care As A Result Of Intangible Assets & Innovation! - Major Drivers

<ul><li>ResMed Inc. delivered a disappointing set of results as the company was unable to meet the revenue and earnings expectations of Wall Street.</li><li>Group revenue reached $1.12 billion, reflecting a notable 23% increase on a headline basis and in constant currency.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

ResMed Inc. delivered a disappointing set of results as the company was unable to meet the revenue and earnings expectations of Wall Street.Group revenue reached $1.12 billion, reflecting a notable 23% increase on a headline basis and in constant currency.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

ResMed Inc.: Will The Acquisition of Somnoware Up The Respiratory Diagnostics Game? - Major Drivers

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Equity Derivatives

<ul>
<li>The <a href="https://www.smartkarma.com/entities/s-p-asx-200" target="_blank" data-smartkarma-citation="entities:22901:1" rel="noopener">S&amp;P/ASX 200 INDEX</a> has been stuck in the 7000-7400 range for the past 16 weeks.</li>
<li>If the index continues to be trendless for some more weeks, it's possible to profit from repeatedly writing Covered Calls against ASX 200 index holdings.</li>
<li>Strike target areas for Covered Calls begin in the 7319-7409 (July 20 expiry). Deeper OTM Strikes are safe,  but the premiums are smaller.</li>
</ul>


The S&amp;P/ASX 200 INDEX has been stuck in the 7000-7400 range for the past 16 weeks.
If the index continues to be trendless for some more weeks, it's possible to profit from repeatedly writing Covered Calls against ASX 200 index holdings.
Strike target areas for Covered Calls begin in the 7319-7409 (July 20 expiry). Deeper OTM Strikes are safe,  but the premiums are smaller.


EQD | S&P/ASX200: Ideas to Profit From a Directionless Market

United States

ResMed Inc. develops, manufactures, and markets medical equipment for the treatment of sleep disordered breathing. The Company sells diagnostic and treatment devices in various countries through its subsidiaries and independent distributors.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

ResMed Inc (RMD AU)

Cochlear Ltd (COH AU): Underlying Business Strength Justifies Superior Valuation

Cochlear lifted FY24 net profit guidance 8% to A$385–400M (+26–31% YoY). The company expects FY24 cochlear implant volume growth of 10–15% YoY from...

Tina Banerjee

ResMed Inc: Potential expansion of sleep awareness and population health management strategies to boost growth! - Major Drivers

In the Q2 FY2024 earnings for ResMed, the company registered strong execution across its entire business, reflecting in double-digit top and...

Baptista Research

ResMed Inc.: A Leader In Sleep Apnea Care As A Result Of Intangible Assets & Innovation! - Major Drivers

In the first quarter of fiscal year 2024, ResMed Inc. had robust results across its business segments, with significant double-digit growth in...

Baptista Research

ResMed Inc.: Will The Acquisition of Somnoware Up The Respiratory Diagnostics Game? - Major Drivers

ResMed Inc. delivered a disappointing set of results as the company was unable to meet the revenue and earnings expectations of Wall Street. Group...

Baptista Research

EQD | S&P/ASX200: Ideas to Profit From a Directionless Market

Overall it seems the index for now is respecting the prediction we made 3 weeks ago: directionless, shortable - but also you can go LONG when the...

Nico Rosti

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)