ResMed Coverage Initiated by Analysts at Northland Capital Partners (RMD)
Equities researchers at Northland Capital Partners assumed coverage on shares of ResMed (NYSE:RMD) in a research report issued on Tuesday, AR Network reports. The firm set a “market perform” rating and a $44.00 price target on the stock. Northland Capital Partners’ price target would indicate a potential downside of 18.03% from the stock’s previous close.
In other ResMed news, COO Robert Andrew Douglas sold 8,000 shares of ResMed stock on the open market in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $53.20, for a total transaction of $425,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
ResMed (NYSE:RMD) opened at 53.68 on Tuesday. ResMed has a 1-year low of $38.08 and a 1-year high of $54.45. The stock has a 50-day moving average of $51.2 and a 200-day moving average of $48.07. The company has a market cap of $7.625 billion and a P/E ratio of 25.56.
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 Northland Securities initiated coverage on shares of ResMed in a research note to investors on Monday. They set a “market perform” rating on the stock. Separately, 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. Finally, 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. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. ResMed has an average rating of “Hold” and an average target price of $47.86.
ResMed Inc, (NYSE:RMD) is a holding company for the ResMed Group.
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