Analysts Adjust ResMed Price Targets Across the Board

ResMed is receiving attention from analysts, with multiple firms adjusting their price targets. On the one hand, Baird reduced its target price to $225, indicating a slightly more conservative outlook. Conversely, RBC has a more bullish stance and increased its target to $321, reaffirming their Outperform rating.

Wells Fargo and Jefferies took more modest steps, lowering their target prices to $227 and $240 respectively. These price adjustments suggest analysts see growth prospects for the company, but with varying degrees of optimism.

ResMed's mixed analyst moves reflect a genuine debate about the company's medium-term growth trajectory. Bulls point to underpenetrated sleep apnea diagnosis rates globally and expanding connected-device data that generates high-margin recurring software revenue. Bears cite a more crowded competitive landscape and the structural risk that GLP-1 weight-loss drugs — by reducing obesity-related sleep apnea incidence — could gradually shrink RMD's total addressable market. How that GLP-1 dynamic evolves over the next 2–3 years is the defining question for the stock's long-term multiple.

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