• On 19 May 2026, ResMed and Oura announced a partnership that connects Oura Ring Gen3 and Ring 4 members in the U.S. to ResMed’s sleep education tools, assessments, and options to link with independent healthcare providers.
• This collaboration uniquely bridges consumer wearable sleep data with clinical sleep resources, aiming to help address undiagnosed conditions such as obstructive sleep apnea.
• Next, we’ll examine how integrating Oura’s consumer wearables data with ResMed’s clinical sleep ecosystem could influence the company’s investment narrative.

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ResMed Investment Narrative Recap

To own ResMed, you need to believe in a long runway for sleep apnea diagnosis and home-based, cloud-connected therapy, supported by resilient margins. The Oura partnership fits this by nudging more undiagnosed consumers into ResMed’s funnel, but it does not directly change near term exposure to reimbursement shifts or competition from alternative therapies, which still look like the most important catalyst and risk for the stock over the next year.

The ResMed and Oura tie up also sits alongside another recent development: Q3 FY26 results showed US$1,431.4 million in sales and US$398.7 million in net income, with ongoing buybacks and a US$0.60 quarterly dividend. Together, these updates frame how investors might think about balancing potential upside from a broader digital ecosystem with ongoing concerns about pricing pressure, cost inflation and evolving reimbursement for sleep and respiratory care.

Yet while partnerships like Oura could expand the funnel, investors still need to think carefully about the risk that tighter reimbursement or new cost controls...

ResMed’s narrative projects $6.7 billion revenue and $1.9 billion earnings by 2029. This requires 7.6% yearly revenue growth and an earnings increase of about $0.4 billion from $1.5 billion today.

Uncover how ResMed's forecasts yield a $288.21 fair value, a 38% upside to its current price.

Exploring Other Perspectives

Some of the most optimistic analysts saw ResMed reaching about US$7.0 billion in revenue and US$2.1 billion in earnings by 2029, which is a far more upbeat view than consensus and assumes smoother execution on catalysts like expanding sleep screening links than the baseline narrative. With the Oura news still fresh and not yet reflected in those forecasts, you should expect that opinions on both the upside and the risks could shift as more data comes through.

Explore 8 other fair value estimates on ResMed - why the stock might be worth 14% less than the current price!

Reach Your Own Conclusion

Don't just follow the ticker - dig into the data and build a conviction that's truly your own.

• A great starting point for your ResMed research is our analysis highlighting 4 key rewards that could impact your investment decision.
• Our free ResMed research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate ResMed's overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.