Are Wall Street Analysts Predicting ResMed Stock Will Climb or Sink?

ResMed Inc. (RMD), headquartered in San Diego, California, manufactures, distributes, and markets medical devices and cloud-based software applications. Valued at $35.9 billion by market cap, the company offers a range of products for respiratory disorders, including diagnostic tools like ApneaLink Air and NightOwl, cloud-based platforms like AirView and myAir for patient monitoring, and U-Sleep for HME providers, connectivity solutions, as well as out-of-hospital software solutions.

Shares of this sleep tech giant have underperformed the broader market over the past year. RMD has gained 2.9% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 12.3%. In 2025, RMD stock is up 7.1%, compared to the SPX’s 12.9% rise on a YTD basis. 

Narrowing the focus, RMD’s underperformance is also apparent compared to the iShares U.S. Medical Devices ETF (IHI). The exchange-traded fund has gained about 3.3% over the past year. However, RMD’s returns on a YTD basis outshine the ETF’s 6.1% gains over the same time frame.

On Oct. 30, RMD shares closed down marginally after reporting its Q1 results. Its adjusted EPS of $2.55 surpassed Wall Street expectations of $2.49. The company’s revenue was $1.34 billion, topping Wall Street's $1.32 billion forecast.

For the current fiscal year, ending in June 2026, analysts expect RMD’s EPS to grow 13.2% to $10.81 on a diluted basis. The company’s earnings surprise history is impressive. It beat the consensus estimate in each of the last four quarters.

Among the 19 analysts covering RMD stock, the consensus is a “Moderate Buy.” That’s based on nine “Strong Buy” ratings, two “Moderate Buys,” seven “Holds,” and one “Strong Sell.”

This configuration is more bullish than two months ago, with eight analysts suggesting a “Strong Buy.”

On Nov. 3, Baird kept an “Outperform” rating on RMD and lowered the price target to $300, implying a potential upside of 22.5% from current levels.

The mean price target of $291.31 represents an 18.9% premium to RMD’s current price levels. The Street-high price target of $335 suggests a notable upside potential of 36.7%.