ResMed shares are trading lower after the company reported worse-than-expected Q4 adjusted EPS results. Additionally, Keybanc maintained an Overweight rating on the stock but lowered its price target from $280 to $260.
Portfolio Pulse from Benzinga Newsdesk
ResMed's Q4 adjusted EPS results were below expectations, causing its shares to trade lower. Keybanc maintained an Overweight rating on the stock but reduced its price target from $280 to $260.
August 04, 2023 | 3:38 pm
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ResMed's lower-than-expected Q4 EPS results and Keybanc's reduced price target may negatively impact the stock's short-term performance.
ResMed's Q4 EPS results were below market expectations, which is typically a negative signal for investors and can lead to a decrease in the stock price. Additionally, Keybanc's decision to lower its price target for ResMed, despite maintaining an Overweight rating, suggests that they expect less upside potential for the stock, which could further pressure the stock price in the short term.
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