ResMed Analysts Boost Their Forecasts After Better-Than-Expected Earnings

ResMed (NYSE:RMD) reported better-than-expected third-quarter financial results on Thursday.

ResMed posted adjusted earnings of $2.13 per share, beating market expectations of $1.91 per share. The company's quarterly sales came in at $1.200 billion versus estimates of $1.167 billion, according to data from Benzinga Pro.

Gross margin rose 260 bps to 57.9%, while non-GAAP gross margin increased 240 bps to 58.5%.

ResMed shares fell 0.2% to close at $183.42 on Thursday.

These analysts made changes to their price targets on ResMed following earnings announcement.

  • Needham increased the price target on ResMed from $224 to $236. Needham analyst Mike Matson maintained a Buy rating.
  • Keybanc boosted the price target on ResMed from $227 to $238. Keybanc analyst Brett Fishbin maintained an Overweight rating.

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