ResMed’s Neutral Rating Reiterated at Zacks (RMD)
ResMed (NYSE:RMD)‘s stock had its “neutral” rating reissued by Zacks in a report issued on Friday. They currently have a $54.00 price target on the stock. Zacks‘s price target indicates a potential upside of 4.35% from the stock’s previous close.
Zacks’ analyst wrote, “ResMed posted an unimpressive fourth-quarter fiscal 2014 with adjusted EPS of $0.64, which although grew 3.2%, missed the Zacks Consensus Estimate of $0.66. Revenues of $415.2 million were up a mere 0.1% but remained below the estimate of $434 million. Revenue was lower than anticipated, primarily due to ongoing headwinds in U.S. market. However, ResMed continued to gain from a solid foothold in the huge SDB market and strong overseas business. Further penetration in the still untapped OSA market should catalyze growth. The company’s lucrative pipeline is another upside. Attractive share buyback continues to boost investors’ return. However, reimbursement issues across the world and competitive bid remain as major headwinds. The company also faces a tough competitive landscape and a challenging macroeconomic scenario. Thus, we remain Neutral on the stock.”
A number of other firms have also recently commented on RMD. Analysts at Piper Jaffray cut their price target on shares of ResMed from $55.00 to $53.00 in a research note on Friday, August 1st. Separately, analysts at Canaccord Genuity cut their price target on shares of ResMed from $43.00 to $39.00 in a research note on Friday, August 1st. Finally, analysts at Jefferies Group reiterated a “hold” rating on shares of ResMed in a research note on Friday, August 1st. They now have a $42.00 price target on the stock, up previously from $40.00. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $45.90.
Shares of ResMed (NYSE:RMD) traded up 0.50% on Friday, hitting $52.01. The stock had a trading volume of 315,749 shares. ResMed has a 52-week low of $41.52 and a 52-week high of $57.34. The stock’s 50-day moving average is $50.31 and its 200-day moving average is $48.28. The company has a market cap of $7.290 billion and a price-to-earnings ratio of 21.65.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.64 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.66 by $0.02. The company had revenue of $415.20 million for the quarter, compared to the consensus estimate of $433.42 million. During the same quarter last year, the company posted $0.62 earnings per share. ResMed’s revenue was up .1% compared to the same quarter last year. On average, analysts predict that ResMed will post $2.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Thursday, September 18th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 2.16%. The ex-dividend date is Tuesday, August 19th. This is a boost from ResMed’s previous quarterly dividend of $0.25.
ResMed Inc, (NYSE:RMD) is a holding company for the ResMed Group.
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