Resmed Down 20% | Time to Buy This High Quality Company??
On August 4 Resmed (RMD) released their 4th Q financials. The market did not like what they saw (below expectations and contraction in gross margins) thus the share price nosedived. Fall of 20% after five consecutive down days.
But is the market overreacting? Based off my guidelines, Resmed is a high quality company that has been a little overvalued during the past 6 or so years. Now, Resmed is starting to look attractive.
However, there are a few things to be wary. Dropping gross margins AND future competition.
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