ResMed Inc. (NYSE:RMD) was downgraded by analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report released on Tuesday, August 8th.
Several other research analysts also recently issued reports on RMD. J P Morgan Chase & Co downgraded shares of ResMed from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $72.00 to $71.00 in a report on Thursday, April 20th. BMO Capital Markets restated a “hold” rating on shares of ResMed in a research report on Friday, May 12th. Zacks Investment Research lowered shares of ResMed from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Jefferies Group LLC restated a “sell” rating and issued a $56.00 price target on shares of ResMed in a research report on Friday, April 28th. Finally, Citigroup Inc. upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. ResMed has a consensus rating of “Hold” and a consensus target price of $65.63.
Shares of ResMed (RMD) traded up 0.38% on Tuesday, reaching $73.07. The company’s stock had a trading volume of 529,536 shares. The stock has a market capitalization of $10.39 billion, a PE ratio of 30.45 and a beta of 0.83. ResMed has a 1-year low of $56.59 and a 1-year high of $79.63. The stock has a 50-day moving average of $75.87 and a 200 day moving average of $72.42.
ResMed (NYSE:RMD) last announced its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $556.69 million for the quarter, compared to the consensus estimate of $557.68 million. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The business’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 EPS. On average, equities analysts forecast that ResMed will post $3.03 EPS for the current year.
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In related news, Director Richard Sulpizio sold 65,887 shares of ResMed stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $77.82, for a total transaction of $5,127,326.34. Following the sale, the director now directly owns 4,429 shares in the company, valued at approximately $344,664.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jr. Gregor K. Emmert bought 424,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were acquired at an average price of $0.06 per share, for a total transaction of $25,440.00. Over the last three months, insiders sold 204,650 shares of company stock worth $15,516,845. Insiders own 1.97% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMD. Dimensional Fund Advisors LP raised its position in ResMed by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 364,186 shares of the medical equipment provider’s stock valued at $22,599,000 after buying an additional 6,742 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in ResMed by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 372,441 shares of the medical equipment provider’s stock valued at $23,110,000 after buying an additional 1,952 shares during the last quarter. Gulf International Bank UK Ltd raised its position in ResMed by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 42,044 shares of the medical equipment provider’s stock valued at $3,025,000 after buying an additional 725 shares during the last quarter. National Pension Service raised its position in ResMed by 37,521.7% in the first quarter. National Pension Service now owns 140,329 shares of the medical equipment provider’s stock valued at $10,036,000 after buying an additional 139,956 shares during the last quarter. Finally, Bank of Montreal Can raised its position in ResMed by 21.2% in the first quarter. Bank of Montreal Can now owns 175,344 shares of the medical equipment provider’s stock valued at $12,619,000 after buying an additional 30,703 shares during the last quarter. Hedge funds and other institutional investors own 60.66% of the company’s stock.
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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