Ann: ResMed Announces Results for the Fourth Quarter of FY2023, page-210

From Rudi at FNArena :
Equally interesting is that ResMed ((RMD)) whose shares have sold off a whopping -30% on a disappointing quarterly margin and speculation about competition through weight loss drugs from Eli Lilly and Novo Nordisk, has continued to garner support from local fund managers and healthcare sector analysts.Not that any of it has stopped the share price decline to date.Those strategists who had picked ResMed as one of their core holdings for the year ahead, are sticking with their choice. Fund managers who weren't necessarily paying attention are definitely now. Healthcare analysts continue to express their surprise about the sudden selling pressure and their support for the shares medium to longer term.Healthcare analysts at Macquarie retain ResMed as their second most favoured exposure on the ASX, behind CSL ((CSL)) and ahead of also-favourites Monash IVF ((MVF)) and Regis Healthcare ((REG)).Macquarie's response: "We see the growth outlook as favourable, supported by increased new patient set-ups and share gains, with potential upside from outcomes associated with the Philips consent decree. Current valuations are near 10-year lows reflecting concerns in relation to GLP-1 RA which we see as overstated."The over-arching issue remains that demand for GLP-1 drugs from both manufacturers is in a steep hockeystick up-trend and everyone can have a big guess as to how, to what extent, and when exactly this might impact on ResMed's sales trajectory.