Credit Suisse Cuts ResMed to Neutral (RMD)
ResMed (NYSE: RMD) was downgraded by analysts at Credit Suisse (NYSE: CS) from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Friday.
A number of other analysts have also recently weighed in on RMD. Analysts at Feltl & Co. upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note to investors on Friday. They now have a $38.00 price target on the stock. Separately, analysts at Mizuho raised their price target on shares of ResMed from $28.00 to $32.00 in a research note to investors on Friday. They now have a “neutral” rating on the stock.
Shares of ResMed traded up 0.13% during mid-day trading on Friday, hitting $34.1529. ResMed has a 52 week low of $23.37 and a 52 week high of $35.32. The company has a market cap of $4.919 billion and a P/E ratio of 22.02.
The company last announced its quarterly results on Thursday, April 26th. It reported $0.44 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.41 EPS by $0.03. The company’s quarterly revenue was up 11.5% on a year-over-year basis. Analysts expect that ResMed will post $0.42 EPS next quarter.
ResMed Inc. (ResMed), is a holding company for the ResMed Group. The Company, through its subsidiaries, is a developer, manufacturer and distributor of medical equipment for treating, diagnosing, and managing sleep-disordered breathing and other respiratory disorders.