ResMed Shares See Analyst Target Price Increases Following Q1 Earnings Beat
What happened
ResMed reported fiscal Q1 2027 adjusted earnings of $2.91 per share, exceeding the $2.67 consensus estimate, while revenue rose 5.9% year over year to $1.41 billion. Following the results, Wells Fargo, Citigroup, and Royal Bank of Canada all raised their target prices for ResMed shares. ResMed also declared a quarterly dividend of $0.66 per share.
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Why it matters
The earnings beat and gross-margin expansion supported the upgrades from major financial institutions. The positive sentiment from analysts, coupled with the dividend declaration, affects market valuation and investor confidence in ResMed.
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Who's involved
- ResmedManufacturer of CPAP masks and respiratory products
- CitigroupRaised its target price for ResMed
- Royal Bank of CanadaRaised its target price for ResMed
- Wells FargoRaised its target price for ResMed
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- ResmedSpeculative
The strong earnings and sustained demand for sleep devices might increase investor demand for its products.
- CitigroupSpeculative
The target price increase might boost Citigroup's market influence and research revenue.
- Royal Bank of CanadaSpeculative
The target price increase might enhance Royal Bank of Canada's competitive standing in the financial sector.
- Wells FargoSpeculative
The target price increase might boost Wells Fargo's competitive standing in the financial sector.
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The entities involved
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Resmed
manufacturer of CPAP masks, machines and products that diagnose, treat or help manage respiratory conditions