 Although ResMed Incs NYSE:RMD long-term outlook is positive, the market seems to have over-reacted to rival Koninklijke Philips NVs NYSE:PHG recall notification of certain sleep and respiratory care devices for the U.S., according to BofA Securities. The ResMed Analyst: Lyanne Harrison downgraded the rating for ResMed from Neutral to Underperform, while raising the price target from 216 to 221. 