ResMed (RMD) Cut to “Neutral” at UBS

ResMed (NYSE:RMD) was downgraded by equities researchers at UBS from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday.

Other research analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Thursday, January 18th. ValuEngine upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Needham & Company LLC upgraded shares of ResMed from an “underperform” rating to a “hold” rating in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $74.83.

RMD opened at $96.45 on Tuesday. ResMed has a 1-year low of $67.04 and a 1-year high of $104.78. The company has a market capitalization of $13,998.28, a price-to-earnings ratio of 34.20 and a beta of 0.90.

ResMed (NYSE:RMD) last released its quarterly earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.22. ResMed had a net margin of 12.98% and a return on equity of 22.75%. The business had revenue of $601.27 million for the quarter, compared to the consensus estimate of $583.77 million. During the same period last year, the firm earned $0.73 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. sell-side analysts predict that ResMed will post 3.37 EPS for the current fiscal year.

In other news, Director John P. Wareham sold 25,934 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $102.25, for a total transaction of $2,651,751.50. Following the sale, the director now directly owns 38,934 shares in the company, valued at approximately $3,981,001.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Hollingshead sold 600 shares of the firm’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $94.01, for a total transaction of $56,406.00. The disclosure for this sale can be found here. Insiders have sold a total of 42,004 shares of company stock worth $4,209,303 over the last 90 days. Insiders own 1.77% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Calton & Associates Inc. purchased a new position in ResMed during the fourth quarter valued at $115,000. Cubist Systematic Strategies LLC purchased a new position in ResMed during the third quarter valued at $113,000. Conning Inc. purchased a new position in ResMed during the fourth quarter valued at $203,000. Commerzbank Aktiengesellschaft FI purchased a new position in ResMed during the fourth quarter valued at $206,000. Finally, Dowling & Yahnke LLC purchased a new position in ResMed during the fourth quarter valued at $208,000. Hedge funds and other institutional investors own 62.38% 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.

Analyst Recommendations for ResMed (NYSE:RMD)

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