ResMed Stock Prediction: Where Analysts See the Stock Going by 2028

Nikko Henson • 5 minute read

Last updated Oct 25, 2025

ResMed Inc. (NYSE: RMD) has maintained steady growth in recent years, supported by rising demand for sleep apnea and respiratory care devices. The stock trades near $259/share, rebounding from last year’s lows as profitability and patient volumes continue to improve.

Recently, ResMed launched its new AirSense 11 platform in additional international markets and expanded its digital health offerings through its Brightree and MatrixCare units. The company also reported strong progress in cloud-connected device adoption, underscoring its leadership in data-driven patient monitoring and long-term respiratory care. These developments highlight management’s focus on technology and operational efficiency to sustain momentum.

This article explores where Wall Street analysts think ResMed could trade by 2028. We have pulled together consensus targets and valuation models to outline the stock’s potential path. These figures reflect current analyst expectations and are not TIKR’s own predictions.

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Analyst Price Targets Suggest Modest Upside

ResMed trades near $259/share today. The average analyst price target is around $296/share, suggesting about 14% upside over the next year. Forecasts remain fairly tight, showing cautious optimism rather than bold conviction:

High estimate: ~$330/share
Low estimate: ~$215/share
Median target: ~$300/share
Ratings: 9 Buys, 2 Outperforms, 7 Holds, 1 Sell

For investors, this points to modest upside potential. Analysts generally believe in the company’s long-term fundamentals but see limited near-term catalysts. Upside could expand if ResMed maintains strong adoption of its AirSense 11 platform or drives faster growth in its digital health software business, both of which could push earnings beyond expectations.

ResMed stock — ResMed Analyst Price Target

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ResMed: Growth Outlook and Valuation

The company’s fundamentals remain robust and well-managed:

Revenue is projected to grow about 7–8% annually through 2028
Operating margins are expected to hold near 36%
Shares trade around 24x forward earnings, slightly below the 5-year average
Based on analysts’ average estimates, TIKR’s Guided Valuation Model using a 24x forward P/E suggests around $352/share by 2028
That implies about 36% total upside, or roughly 12% annualized returns

For investors, these figures highlight a durable compounder with steady earnings visibility. ResMed’s consistent margins, growing software segment, and low debt profile create a strong foundation for long-term value creation. While it may not be a hypergrowth story, its combination of profitability, recurring revenue, and technological edge makes it one of the steadier ways to compound returns in healthcare.

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What’s Driving the Optimism?

ResMed remains a clear leader in sleep apnea and respiratory care, supported by growing global awareness and wider use of connected devices. Its AirSense 11 platform and expanding digital health ecosystem are helping drive adoption across hospitals, clinics, and homecare settings.

The company’s software-as-a-service (SaaS) business, including Brightree and MatrixCare, adds recurring revenue and strengthens its role in patient data management. Together, these segments give ResMed an advantage in integrating hardware, software, and analytics for better clinical outcomes.

For investors, this integrated model supports both growth and resilience. As healthcare moves toward more data-driven treatment and remote monitoring, ResMed is positioned to benefit from durable, high-margin demand across its ecosystem.

Bear Case: Growth and Competition

Even with these positives, ResMed’s valuation reflects high expectations. The company trades at a premium to peers, assuming steady mid-to-high single-digit growth. Any slowdown in device replacements or patient volume could pressure earnings.

Competition is also rising. Philips continues to rebuild share after its recall, while new entrants in digital health are testing connected-care alternatives. Supply chain costs and pricing pressure could further limit margin upside if inflation persists.

For investors, the key risk is normalization. If ResMed’s growth cools or hospitals delay upgrades, upside could narrow, leaving the stock performing in line with the broader market.

Outlook for 2028: What Could ResMed Be Worth?

Based on analysts’ average estimates, TIKR’s Guided Valuation Model using a 24x forward P/E suggests ResMed could trade near $352/share by 2028. That represents about 36% upside from current levels, or roughly 12% annualized returns.

While this outlook signals steady compounding, it already assumes solid execution and margin recovery. To deliver stronger returns, ResMed would need to accelerate digital adoption, expand software integration, or outpace competitors in new product launches.

For investors, ResMed looks like a dependable compounder with predictable growth and financial strength. It may not deliver dramatic upside, but it offers consistency and quality, two traits that remain valuable in healthcare portfolios.

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