ResMed’s (RMD) “Sell” Rating Reaffirmed at Needham & Company LLC
ResMed Inc. (NYSE:RMD)‘s stock had its “sell” rating reaffirmed by equities research analysts at Needham & Company LLC in a report issued on Friday.
Several other equities analysts have also commented on the company. Bank of America Corporation lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 2nd. Credit Suisse Group lowered ResMed from an “outperform” rating to a “neutral” rating in a research note on Tuesday, August 8th. BidaskClub lowered ResMed from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Zacks Investment Research lowered ResMed from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Finally, BMO Capital Markets upped their target price on ResMed from $61.00 to $70.00 and gave the company a “market perform” rating in a research note on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $67.86.
Shares of ResMed (RMD) traded up 1.29% during mid-day trading on Friday, hitting $79.84. The company’s stock had a trading volume of 557,663 shares. The stock has a 50-day moving average of $75.31 and a 200-day moving average of $73.01. ResMed has a 12-month low of $56.59 and a 12-month high of $80.38. The company has a market cap of $11.35 billion, a PE ratio of 33.27 and a beta of 0.79.
ResMed (NYSE:RMD) last issued its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The business had revenue of $556.69 million for the quarter, compared to the consensus estimate of $557.68 million. During the same period in the prior year, the business earned $0.74 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. On average, equities research analysts forecast that ResMed will post $3.03 EPS for the current year.
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In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $77.44, for a total transaction of $96,800.00. Following the completion of the sale, the chief financial officer now directly owns 60,508 shares in the company, valued at $4,685,739.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jr. Gregor K. Emmert purchased 424,000 shares of the company’s stock in a transaction on Wednesday, June 28th. The shares were purchased at an average price of $0.06 per share, with a total value of $25,440.00. Insiders have sold 204,649 shares of company stock valued at $15,635,958 over the last 90 days. 1.97% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Toronto Dominion Bank increased its stake in ResMed by 26.6% during the first quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock worth $111,000 after acquiring an additional 324 shares during the last quarter. YorkBridge Wealth Partners LLC increased its stake in ResMed by 4.9% during the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after acquiring an additional 69 shares during the last quarter. Creative Planning increased its stake in ResMed by 97.1% during the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock worth $130,000 after acquiring an additional 823 shares during the last quarter. Van ECK Associates Corp increased its stake in ResMed by 7.5% during the first quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock worth $140,000 after acquiring an additional 136 shares during the last quarter. Finally, Huntington National Bank acquired a new stake in ResMed during the second quarter worth about $156,000. Institutional investors own 60.25% of the company’s stock.
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.
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