ResMed (NYSE:RMD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “Over the recent past, ResMed has been observed to achieve strong global revenue growth led by sales from Software-as-a-Service businesses as well as its new mask products and devices. We are encouraged to note that the company is working on product innovation through extensive research and development. The company also recently launched the AirFit N20 Classic nasal mask for positive airway pressure (PAP) treatment in Europe. In the past six months, ResMed has traded above the broader industry. However, challenges like competitive bidding and reimbursement issues continue to plague ResMed. The company also remains exposed to foreign exchange fluctuations. Rising operating expenses and a weak operating margin are other major concerns.”
Other equities research analysts have also recently issued reports about the stock. Northland Securities restated a “sell” rating and issued a $55.00 price target on shares of ResMed in a report on Friday, October 27th. Jefferies Group restated a “sell” rating and issued a $56.00 price target on shares of ResMed in a report on Thursday, October 12th. BMO Capital Markets raised their price target on shares of ResMed to $82.00 and gave the stock a “market perform” rating in a report on Tuesday, December 12th. Barclays raised their price target on shares of ResMed from $65.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, September 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of ResMed from $72.00 to $73.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. ResMed presently has an average rating of “Hold” and an average price target of $70.57.
Shares of ResMed (NYSE:RMD) opened at $88.68 on Friday. ResMed has a 12-month low of $62.64 and a 12-month high of $89.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 3.86 and a current ratio of 4.72. The firm has a market cap of $12,599.65, a price-to-earnings ratio of 35.90, a PEG ratio of 2.25 and a beta of 0.79.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $0.66 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. ResMed had a net margin of 16.58% and a return on equity of 21.53%. The company had revenue of $523.66 million during the quarter, compared to analysts’ expectations of $506.08 million. During the same period in the prior year, the company posted $0.62 earnings per share. ResMed’s revenue for the quarter was up 12.5% compared to the same quarter last year. research analysts anticipate that ResMed will post 3.04 EPS for the current year.
In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $85.36, for a total value of $106,700.00. Following the transaction, the chief financial officer now directly owns 79,572 shares of the company’s stock, valued at $6,792,265.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $83.53, for a total transaction of $1,670,600.00. Following the completion of the transaction, the director now directly owns 314,800 shares in the company, valued at $26,295,244. The disclosure for this sale can be found here. Insiders sold 158,929 shares of company stock valued at $13,181,009 over the last 90 days. Corporate insiders own 1.77% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. YorkBridge Wealth Partners LLC lifted its stake in shares of ResMed by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 69 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of ResMed by 12.8% in the second quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock valued at $135,000 after buying an additional 197 shares in the last quarter. WINTON GROUP Ltd lifted its stake in shares of ResMed by 8.6% in the third quarter. WINTON GROUP Ltd now owns 8,076 shares of the medical equipment provider’s stock valued at $622,000 after buying an additional 640 shares in the last quarter. Advisor Group Inc. lifted its stake in shares of ResMed by 26.7% in the third quarter. Advisor Group Inc. now owns 3,164 shares of the medical equipment provider’s stock valued at $244,000 after buying an additional 667 shares in the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of ResMed by 1.6% in the second quarter. Ameritas Investment Partners Inc. now owns 42,439 shares of the medical equipment provider’s stock valued at $3,305,000 after buying an additional 681 shares in the last quarter. 61.81% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION NOTICE: This piece was reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece on another site, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The original version of this piece can be viewed at https://www.dispatchtribunal.com/2018/01/21/resmed-rmd-rating-lowered-to-hold-at-zacks-investment-research.html.
ResMed Company Profile
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.
Receive News & Ratings for ResMed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed and related companies with MarketBeat.com's FREE daily email newsletter.