ResMed price target raised to $232 from $224 at RBC Capital

RBC Capital raised the firm’s price target on ResMed (RMD) to $232 from $224 and keeps a Sector Perform rating on the shares. The company reported a strong Q1 result with double digit revenue growth from all segments, continued gross margin improvement and 35% EPS growth, while its management also maintains a positive outlook for the company given general industry growth, ongoing resupply, and further gross margin improvement, the analyst tells investors in a research note.