Shares in medical product manufacturer RESMED/IDR UNRESTR (ASX: RMD) also known as ResMed Inc were down 0.7% to $12.59 at the time of writing after hitting 52-week high territory to finish off April with a $12.68 closing price.
ResMed has been hit with a US$190.1 million tax bill for the period between 2009 and 2013 following an audit of the company and ResMed announced on Friday it would pay US$151.7 million in additional income tax and US$38.4 million in interest after an amended assessment by the ATO.
ResMed is fighting the claim, but has coughed up half the additional tax in the interim.
Morgans has an add rating on the stock at present while Citigroup is more reluctant given the risk from competitors in the sleep apnoea mask space.
But there is plenty of growth left on the cards with ResMed seeing great gains from its cloud-based patient management system Airview, with 7 million patients now connected.
Brokers who have weighed in on ResMed appear to prefer it to peers Cochlear Limited (ASX: COH) and CSL Limited (ASX: CSL) at present in terms of growth prospects, with Cochlear shares up 0.4% to $194.84 at the time of writing and CSL down slightly to $169.89.
