RBC Capital Markets upgraded ResMed to Outperform from Sector Perform and raised its price target to $262 from $244, citing positives in the respiratory device maker's fourth-quarter results for fiscal 2026. RBC analyst Craig Wong-Pan pointed to the quarter's large share buyback program for fiscal 2027 and the fact that it was the first time the company issued revenue and earnings guidance. Wong-Pan expects the San Diego, California-based MedTech to record high-single-digit earnings per share growth over the next three years despite a potential U.S. return of rival Philips, which faced a recall of millions of respiratory devices in 2021. The report was also the first for ResMed's new CFO, Aaron Bloomer, and the analyst wrote that it marked a pivotal change in how the company will be fiscally managed, adding that his upgrade was based on the company's positive earnings outlook and an undemanding valuation.
ResMed IncRBC upgraded ResMed to Outperform and raised its price target to $262, citing positive Q4 FY2026 results, a large FY2027 buyback, first-ever guidance, and an undemanding valuation.
Koninklijke Philips NV
Royal Bank of Canada