UPDATE: Baird Starts ResMed (RMD) at Neutral, 'short-run comps challenging'

June 21, 2021 4:32 PM EDT
Get Alerts RMD Hot Sheet
Price: $259.83 +0.87%

Rating Summary:
    8 Buy, 11 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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(Updated - June 21, 2021 11:54 PM EDT)

Baird analyst Mike Polark initiates coverage on ResMed (NYSE: RMD) with a Neutral rating and a price target of $240.00.

The analyst comments "Short-run comps challenging – pandemic drove extraordinary ventilator demand. However, sleep volume seems to be recovering with reopening and Philips’ recall seems a unique short-run opportunity for share capture. Net, with relative valuation above historical average, calendar 2022 seems more interesting – tough COVID comps cycled, fuller AirSense 11 launch, perhaps more confidence around AHRQ impact or lack thereof."

For an analyst ratings summary and ratings history on ResMed click here. For more ratings news on ResMed click here.

Shares of ResMed closed at $237.44 yesterday.

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