Impedimed's 4Q cash flow result was in-line Morgans expectations. Momentum for private payors (a driver of future revenue growth) is considered to be building.

Management noted there is sufficient funding to achieve breakeven, which the broker pushes out to FY25 from FY24.

While no changes are made to forecasts, revenue-per-device assumptions are lowered for FY23/24 and the target falls to $0.195 from $0.245. Speculative Buy.

Sector: Health Care Equipment & Services.

Target price is $0.20.Current Price is $0.07. Difference: $0.13 - (brackets indicate current price is over target). If IPD meets the Morgans target it will return approximately 64% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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