RBC Analyst Upgrades ResMed Stock to 'Outperform'
ResMed (RMD) stock rose after RBC Capital Markets analyst Craig Wong-Pan upgraded the company's rating to 'Outperform' with a new price target of $262. The upgrade follows strong Q4 performance and improved balance sheet management under CFO Aaron Bloomer, along with an announced $1.5 billion share buyback program for FY27. Wong-Pan highlighted enhanced earnings visibility and reduced downside volatility as key factors supporting the positive outlook on RMD shares. Despite concerns about Philips re-entering the US sleep apnea market, he believes ResMed's device scale and digital health integration will help maintain high-single-digit EPS growth over the next three years. The stock currently trades at a forward earnings multiple of 18x with an expected full-year EPS above $12. The broader analyst consensus remains bullish, with Barchart reporting a 'Moderate Buy' rating and price targets as high as $320.
Tickers: $RMD
Topics: balance sheet management buyback program RBC Capital Markets ResMed stock upgrade