ResMed trims KeyBanc price target, analyst views on the shares stay constructive

ResMed enters the new week with a slightly lower but still positive KeyBanc price target and a mixed Wall Street stance, as the Nasdaq-listed sleep-apnea specialist remains in focus for its diagnostics devices and cloud-based software.

By Julia Schmitt, Sector & Peer Group desk. Reviewed prior to publication on 2026-06-22, 15:33.

ResMed Inc. (US7611521078) opens the new trading week with a still constructive but slightly reduced analyst stance from KeyBanc on its Nasdaq-listed shares. The sleep-apnea specialist continues to draw comparisons with peers such as Philips and Fisher & Paykel Healthcare in the global respiratory-care sector.

KeyBanc trims target but stays positive

KeyBanc Capital Markets recently adjusted its 12-month price target for ResMed shares to 266 US dollars from 290 dollars while maintaining an Overweight rating, signaling a positive view despite some valuation recalibration. According to a MarketScreener summary of the KeyBanc update, the change reflects updated assumptions after the latest sector moves and company-specific developments.

The same analyst compilation also notes that Morgan Stanley downgraded ResMed in mid-June to Equalweight from Overweight, with a revised price target of 230 dollars from 286 dollars, underscoring a more cautious stance from that house. The Morgan Stanley move reflects concerns about valuation and competitive dynamics, even as the medium-term demand for sleep and respiratory devices remains intact.

Consensus and valuations on ResMed

Across Wall Street, consensus data compiled by MarketBeat show that ResMed carries an average analyst price target around 188.83 US dollars, based on recent updates from several firms. The same overview lists a mix of Buy and Hold ratings, suggesting a broadly constructive but not euphoric stance on the stock.

At a recent closing price near 188.63 dollars on the NYSE, ResMed trades roughly in line with that consensus target, implying limited immediate upside but leaving room for performance if earnings and margins develop favorably. Compared with other medical-technology names in the S&P 500 health-care group, valuation multiples remain at a premium to some peers, reflecting the company’s software exposure and recurring-revenue profile.

The business behind ResMed

ResMed generates most of its revenue with medical devices and masks for the diagnosis and treatment of sleep-disordered breathing, including obstructive sleep apnea, as well as chronic obstructive pulmonary disease. According to company data, devices account for roughly 51.8 percent of sales, masks for about 35.7 percent, and software as a service for around 12.5 percent.

In addition to hardware, ResMed offers cloud-hosted platforms for managing patient data and care pathways, enabling remote monitoring and adherence tracking for sleep and respiratory therapy. This mix of hardware and recurring software income is a key element of the group’s long-term strategy in the global health-care technology market.

Where the ResMed shares trade today

The ResMed shares (US7611521078) most recently traded on the NYSE at 188.63 US dollars on 2026-06-18, 15:59 Eastern time.

Key data on the ResMed shares

• Company: ResMed Inc.
• ISIN: US7611521078
• WKN: 895026
• Ticker: RMD
• Trading venue: NYSE
• Price (as of 2026-06-18, 15:59): 188.63 USD
• Market cap: 27.5 billion USD (as of 2026-06-18)
• Sector / industry: Health Care Equipment & Supplies
• Index membership: S&P 500
• Next earnings date: 2026-08-08

This article is for informational purposes only and does not constitute investment advice or a recommendation to buy or sell securities.