JPMorgan analyst David Low downgraded ResMed to Neutral ahead of next week's Q3 results. Manufacturing challenges are likely to limit mask sales growth for the quarter despite the release of the new AirFit range, Low tells investors in a pre-earnings research note. He lowered his price target for the shares to $71 from $72.

Oppenheimer lowered the firm's price target on ResMed to $200 from $205 and keeps an Outperform rating on the shares. ResMed's Q3 earnings were in line with estimates, and the firm awaits the full SURMOUNT-OSA data readout at ADA in late June, the analyst tells investors in a research note.

KeyBanc raised the firm's price target on ResMed to $238 from $227 and keeps an Overweight rating on the shares. KeyBanc was incrementally encouraged by broad outperformance in Q3, especially given difficult year over year comps in Devices as well as near-term concerns around the potential impacts of GLP-1s, the analyst tells investors in a research note.

Check out this evening's top movers from around Wall Street, compiled by The Fly. HIGHER AFTER EARNINGSSnap (SNAP) up... To see the rest of the story go to thefly.com. See Story Here

Reports Q3 revenue $1.2B, consensus $1.17B. "ResMed's strong third-quarter fiscal year 2024 results reflect robust patient and customer demand for our products and software solutions, leading to double-digit mask and accessories revenue growth along with ongoing operational efficiencies to drive margin improvement and increased profitability, resulting in double-digit growth in both operating profit and earnings per share," said Mick Farrell, ResMed's Chairman & CEO. "Over 2 billion people worldwide can benefit from a ResMed solution to help them sleep better, breathe better, and receive best-in-class healthcare right where they live. We remain laser-focused on bringing market-leading innovation to customers, including our latest AirCurve11 range of non-invasive ventilators and our recently launched AirFit F40 mask system, combined with our entire portfolio of products, software, and solutions, allowing us to continue to deliver value for all our stakeholders."