ResMed Coverage Initiated at Northland Securities (RMD)
Investment analysts at Northland Securities began coverage on shares of ResMed (NYSE:RMD) in a note issued to investors on Monday, StockRatingsNetwork reports. The firm set a “market perform” rating on the stock.
Shares of ResMed (NYSE:RMD) traded down 0.61% on Monday, hitting $53.68. 1,153,590 shares of the company’s stock traded hands. ResMed has a one year low of $38.08 and a one year high of $54.39. The stock’s 50-day moving average is $51.12 and its 200-day moving average is $47.95. The company has a market cap of $7.625 billion and a P/E ratio of 25.72. ResMed also saw some unusual options trading on Friday. Investors acquired 10,022 put options on the stock. This represents an increase of 779% compared to the typical volume of 1,140 put options.
ResMed (NYSE:RMD) last released its earnings data on Thursday, August 1st. The company reported $0.62 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.62. The company had revenue of $414.60 million for the quarter, compared to the consensus estimate of $410.89 million. During the same quarter in the prior year, the company posted $0.53 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks upgraded shares of ResMed from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $55.40 price target on the stock. Separately, analysts at UBS AG downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, October 2nd. They now have a $50.50 price target on the stock. They noted that the move was a valuation call. Finally, analysts at Goldman Sachs Group Inc. upgraded shares of ResMed to a “buy” rating in a research note to investors on Monday, September 23rd. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $48.41.
In other ResMed news, COO Robert Andrew Douglas sold 8,000 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $53.20, for a total value of $425,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
ResMed Inc, (NYSE:RMD) is a holding company for the ResMed Group.
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