ResMed (NYSE:RMD) Downgraded by UBS Group

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ResMed (NYSE:RMD) was downgraded by investment analysts at UBS Group from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, Marketbeat Ratings reports.

Several other equities research analysts have also issued reports on the stock. Deutsche Bank set a €83.00 ($96.51) price target on shares of Gerresheimer and gave the company a “buy” rating in a report on Wednesday, March 20th. Zacks Investment Research raised shares of Flagstar Bancorp from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a report on Monday, July 8th. JPMorgan Chase & Co. set a €8.75 ($10.17) target price on shares of Commerzbank and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, ValuEngine downgraded shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $116.25.

Shares of ResMed stock opened at $123.78 on Tuesday. The company has a market cap of $17.69 billion, a price-to-earnings ratio of 35.07, a PEG ratio of 2.99 and a beta of 0.46. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.38 and a quick ratio of 1.69. The firm has a fifty day simple moving average of $120.12. ResMed has a 52-week low of $90.64 and a 52-week high of $124.94.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.05. The firm had revenue of $662.23 million for the quarter, compared to analyst estimates of $657.82 million. ResMed had a net margin of 17.65% and a return on equity of 26.46%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.92 EPS. As a group, sell-side analysts forecast that ResMed will post 3.6 EPS for the current year.

In related news, CFO Brett Sandercock sold 3,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $102.98, for a total transaction of $308,940.00. Following the transaction, the chief financial officer now owns 82,390 shares in the company, valued at approximately $8,484,522.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider James Hollingshead sold 1,600 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $104.51, for a total transaction of $167,216.00. Following the transaction, the insider now owns 80,457 shares in the company, valued at approximately $8,408,561.07. The disclosure for this sale can be found here. Insiders sold a total of 102,061 shares of company stock worth $11,769,200 in the last 90 days. 1.24% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Taylor Frigon Capital Management LLC increased its stake in shares of ResMed by 15.0% in the 2nd quarter. Taylor Frigon Capital Management LLC now owns 14,705 shares of the medical equipment provider’s stock valued at $1,794,000 after acquiring an additional 1,917 shares during the last quarter. Tandem Investment Advisors Inc. increased its stake in shares of ResMed by 2.7% in the 2nd quarter. Tandem Investment Advisors Inc. now owns 89,130 shares of the medical equipment provider’s stock valued at $10,877,000 after acquiring an additional 2,347 shares during the last quarter. NEXT Financial Group Inc increased its stake in shares of ResMed by 9.7% in the 2nd quarter. NEXT Financial Group Inc now owns 3,563 shares of the medical equipment provider’s stock valued at $435,000 after acquiring an additional 314 shares during the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its stake in shares of ResMed by 0.4% in the 2nd quarter. Hudson Valley Investment Advisors Inc. ADV now owns 45,257 shares of the medical equipment provider’s stock valued at $5,506,000 after acquiring an additional 183 shares during the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of ResMed by 16.6% in the 2nd quarter. IFM Investors Pty Ltd now owns 10,746 shares of the medical equipment provider’s stock valued at $1,311,000 after acquiring an additional 1,529 shares during the last quarter. Institutional investors and hedge funds own 67.21% of the company’s stock.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Analyst Recommendations for ResMed (NYSE:RMD)

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