ResMed price target raised to $215 from $180 at Needham

Needham analyst Michael Matson raised the firm’s price target on ResMed to $215 from $180 and keeps a Buy rating on the shares. The company’s Q2 results topped estimates, though its organic revenue growth slowed to 9% from 12% in Q1, the analyst tells investors in a research note. ResMed also provided an update on its effort to track thousands of patients on GLP-1s and using CPAPs, with the latest data showing increased CPAP initiation and resupply rates, the firm added. Needham further cites peer multiple expansion in boosting its price target.