ResMed (RMD) Lowered to “Underperform” at Macquarie

ResMed (NYSE:RMD) was downgraded by investment analysts at Macquarie from a “neutral” rating to an “underperform” rating in a note issued to investors on Tuesday, The Fly reports.

RMD has been the subject of a number of other reports. Jefferies Group reissued a “sell” rating and issued a $56.00 target price on shares of ResMed in a report on Thursday, October 12th. Needham & Company LLC raised ResMed from an “underperform” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating and set a $99.00 target price for the company in a report on Friday, January 5th. BMO Capital Markets increased their target price on ResMed from $70.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, October 27th. Finally, Barclays raised their price target on ResMed from $68.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, October 27th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $71.71.

ResMed (RMD) opened at $87.51 on Tuesday. The company has a quick ratio of 3.86, a current ratio of 4.72 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $12,420.00, a P/E ratio of 35.43, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. ResMed has a twelve month low of $62.64 and a twelve month high of $89.72.

ResMed (NYSE:RMD) last issued its earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.22. ResMed had a return on equity of 21.53% and a net margin of 16.58%. The business had revenue of $601.27 million during the quarter, compared to analysts’ expectations of $583.77 million. During the same period in the prior year, the firm posted $0.73 EPS. ResMed’s quarterly revenue was up 13.4% compared to the same quarter last year. equities research analysts expect that ResMed will post 3.04 earnings per share for the current year.

In other ResMed news, Director Peter C. Farrell sold 20,000 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $83.53, for a total value of $1,670,600.00. Following the transaction, the director now directly owns 314,800 shares in the company, valued at approximately $26,295,244. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David Pendarvis sold 6,364 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $82.20, for a total value of $523,120.80. The disclosure for this sale can be found here. Insiders have sold a total of 158,929 shares of company stock valued at $13,181,009 over the last ninety days. Insiders own 1.77% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in RMD. Mizuho Asset Management Co. Ltd. boosted its position in shares of ResMed by 102.6% in the 2nd quarter. Mizuho Asset Management Co. Ltd. now owns 1,692 shares of the medical equipment provider’s stock worth $107,000 after purchasing an additional 857 shares during the last quarter. FineMark National Bank & Trust boosted its position in shares of ResMed by 30.8% in the 3rd quarter. FineMark National Bank & Trust now owns 1,700 shares of the medical equipment provider’s stock worth $110,000 after purchasing an additional 400 shares during the last quarter. Toronto Dominion Bank boosted its position in shares of ResMed by 26.6% in the 1st quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock worth $111,000 after purchasing an additional 324 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of ResMed in the 3rd quarter worth $113,000. Finally, YorkBridge Wealth Partners LLC boosted its position in shares of ResMed by 4.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 61.85% of the company’s stock.

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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.

The Fly

Analyst Recommendations for ResMed (NYSE:RMD)

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