0358 GMT - ResMed's new bull at Goldman Sachs sees growing awareness of obstructive sleep apnea boosting the breathing-tech developer over the coming years. Analyst Davin Thillainathan tells clients in a note that awareness of the condition is rising thanks to wearable tech such as smart watches, patients seeking obesity treatment through medication, and potentially the use of AI to assist with diagnosis. This underpins what Thillainathan says should be solid growth at ResMed's devices segment over the next three years. He estimates that 25%-30% of U.S. patients with obstructive sleep apnea have tried continuous positive airway pressure therapy over the past 10 years. GS puts a buy rating and A$48.90 target price on the stock, which is up 1.5% at A$38.10. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 22:58 ET (03:58 GMT)
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