2234 GMT - Strong growth in downloads of the ResMed app suggests that the breathing-tech developer could beat expectations for December-quarter device sales, Citi analysts suggest. They point to 17% on-year growth in U.S. downloads for the final three months of 2024, which compares with an average analyst forecast of 8.2% on-year growth in sales for the period. The Citi analysts, who also flag 22% on-year growth in U.S. monthly users for December, are looking for 10% on-year growth in device sales. Citi has a neutral rating and a A$37.07 target price on the stock, which is at A$37.54 ahead of the open. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
January 16, 2025 17:34 ET (22:34 GMT)
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