Buy, hold or sell: ResMed, Origin Energy and Reece shares

ResMed's Q1 beat - revenue up 6% to US$1.4bn, EPS up 23% to US$2.92, net profit 9% above consensus, over US$1bn returned via buybacks and dividends, and reiterated 5-7% full-year revenue guidance - underpins Macquarie's outperform and US$47.50 target. Read-through is confined to medtech and healthcare-equipment sentiment; index-level impact is marginal, though it supports the resilient elective-healthcare spending narrative.