Needham analyst Michael Matson has maintained their neutral stance on RMD stock, giving a Hold rating on May 6.
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Michael Matson has given his Hold rating due to a combination of factors, balancing the strategic upside from the Noctrix Health acquisition against ongoing competitive risks. The purchase of Noctrix and its Nidra device gives ResMed exposure to the sizable restless legs syndrome market, where existing therapies often fail to deliver durable benefit and Nidra appears to provide a more cost-effective, quality-of-life–enhancing alternative.
However, his scenario work suggests that Nidra is likely to contribute only modest incremental growth, adding roughly low single-digit percentage points to revenue and EPS over fiscal 2027–2031. When this limited financial uplift is weighed against competitive pressures from pharmacologic treatments and the possibility of Philips re-entering key markets, he concludes that risk and reward are broadly balanced, supporting a Hold rather than a more aggressive rating.
According to TipRanks, Matson is a 3-star analyst with an average return of 0.9% and a 43.60% success rate. Matson covers the Healthcare sector, focusing on stocks such as TransMedics Group, Boston Scientific, and Merit Medical Systems.
In another report released on May 6, Piper Sandler also maintained a Hold rating on the stock with a $233.00 price target.