ResMed Price Targets Rise to $302 and $314 After Strong Q2 Results
KeyBanc lifted ResMed's price target to $302 from $299 on Q2 fiscal 2026 revenue beats led by Masks & Accessories and Devices hardware. RBC raised its target to $314 from $311 following double-digit revenue growth and lauded its decision to raise fiscal 2026 gross margin guidance above 60%.
1. Q2 Fiscal 2026 Results
ResMed reported Q2 fiscal 2026 revenue exceeding expectations with double-digit growth, driven by its Masks & Accessories and Devices hardware segments, while its Software as a Service division posted softer numbers.
2. Analyst Price Target Revisions
KeyBanc Capital Markets increased its price target to $302 from $299 and maintained an Overweight rating, while RBC Capital Markets raised its target to $314 from $311 and kept its Outperform rating in response to the strong quarterly performance.
3. Gross Margin Guidance Raise
ResMed raised the low end of its fiscal 2026 gross margin guidance to above 60%, signaling improving profitability expectations and enhanced operating leverage for the remainder of the year.
4. Business Overview
ResMed designs and manufactures CPAP machines, respiratory masks, and cloud-connected software platforms for sleep apnea and chronic respiratory disease management, enabling remote patient monitoring and digital health solutions.