ResMed Downgraded to “Neutral” at Zacks (RMD)
ResMed (NYSE:RMD) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Monday, Analyst RN reports. They currently have a $59.40 target price on the stock. Zacks‘ price objective would indicate a potential upside of 16.70% from the company’s current price.
Shares of ResMed (NYSE:RMD) traded down 0.39% during mid-day trading on Monday, hitting $50.70. 347,670 shares of the company’s stock traded hands. ResMed has a 52-week low of $38.08 and a 52-week high of $57.34. The stock’s 50-day moving average is $53.73 and its 200-day moving average is $49.16. The company has a market cap of $7.200 billion and a P/E ratio of 23.46.
ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.58 by $0.02. The company had revenue of $357.66 million for the quarter, compared to the consensus estimate of $372.28 million. During the same quarter last year, the company posted $0.49 earnings per share. ResMed’s revenue was up 5.3% compared to the same quarter last year. Analysts expect that ResMed will post $2.56 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, December 18th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Friday, November 15th.
A number of other firms have also recently commented on RMD. Analysts at Jefferies Group raised their price target on shares of ResMed from $40.00 to $46.00 in a research note to investors on Friday, October 25th. They now have a “hold” rating on the stock. Separately, analysts at UBS AG upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research note to investors on Friday, October 25th. Finally, analysts at Deutsche Bank downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note to investors on Friday, October 25th. They now have a $54.00 price target on the stock, down previously from $58.00. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $50.18.
In other ResMed news, Insider David Pendarvis sold 37,744 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $50.42, for a total transaction of $1,903,052.48. 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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