ResMed Inc. (NYSE:RMD) was downgraded by research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday.

RMD has been the subject of several other reports. BMO Capital Markets increased their price objective on ResMed from $61.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, August 2nd. Needham & Company LLC restated a “sell” rating on shares of ResMed in a report on Wednesday, August 2nd. Zacks Investment Research lowered ResMed from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Bank of America Corporation lowered ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. Finally, BidaskClub lowered ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.63.

ResMed (NYSE RMD) traded down 0.87% during trading on Tuesday, hitting $74.40. The stock had a trading volume of 907,229 shares. The firm’s 50-day moving average price is $77.14 and its 200-day moving average price is $71.90. ResMed has a 1-year low of $56.59 and a 1-year high of $79.63. The stock has a market cap of $10.57 billion, a PE ratio of 31.00 and a beta of 0.83.

ResMed (NYSE:RMD) last issued its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.02. The business had revenue of $556.69 million during the quarter, compared to analysts’ expectations of $557.68 million. ResMed had a return on equity of 21.99% and a net margin of 16.56%. ResMed’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.74 earnings per share. On average, equities research analysts predict that ResMed will post $3.05 earnings per share for the current fiscal year.

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In other ResMed news, insider David Pendarvis sold 6,365 shares of ResMed stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $72.62, for a total transaction of $462,226.30. Following the sale, the insider now directly owns 84,477 shares of the company’s stock, valued at $6,134,719.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 20,000 shares of ResMed stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $75.15, for a total value of $1,503,000.00. Following the sale, the director now directly owns 321,557 shares in the company, valued at $24,165,008.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,260 shares of company stock worth $13,715,644. 1.97% of the stock is owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank boosted its position in ResMed by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock valued at $111,000 after buying an additional 324 shares during the period. Creative Planning boosted its position in ResMed by 97.1% in the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after buying an additional 823 shares during the period. Van ECK Associates Corp boosted its position in ResMed by 7.5% in the first quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after buying an additional 136 shares during the period. Huntington National Bank bought a new position in ResMed during the second quarter valued at $156,000. Finally, Morgan Dempsey Capital Management LLC boosted its position in ResMed by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock valued at $158,000 after buying an additional 50 shares during the period. Institutional investors own 60.68% of the company’s stock.

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.

Analyst Recommendations for ResMed (NYSE:RMD)

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