Adjusted EPS reached $1.49, up from $1.35 a year ago.
The company also increased its quarterly dividend to $0.44 from $0.42 per share.
Keybanc reiterates the Overweight rating and price target of $276.
The analyst says that after resetting near-term supply chain expectations, visibility appears to be increasing and management's tone seemed more optimistic around key moving pieces to Keybanc's thesis, including:
Q4 constant currency growth exceeded Keybanc's expectations, while FX limited more upside.
The management expects a sequential improvement in device production volumes through FY23 and an incremental step in masks & accessories growth.
Koninklijke Philips NV's (NYSE: PHG) recall issues continue to present opportunities for ResMed, and the company may finally be in a position to address more fully the opportunities presented by PHG's recall.
Price Action: RMD shares closed down 0.42% at $239.85 on Friday.
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