Goldman Sachs Raises ResMed to Buy (RMD)
ResMed (NYSE: RMD) was upgraded by equities researchers at Goldman Sachs (NYSE: GS) from a “neutral” rating to a “buy” rating in a report issued on Friday.
Shares of ResMed traded down 0.09% during mid-day trading on Friday, hitting $34.08. ResMed has a one year low of $23.37 and a one year high of $35.32. The company has a market cap of $4.908 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. On average, analysts predict that ResMed will post $0.42 earnings per share next quarter.
RMD has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity reiterated a “hold” rating on shares of ResMed in a research note to investors on Friday. Separately, analysts at Credit Suisse (NYSE: CS) downgraded shares of ResMed from an “outperform” rating to a “neutral” rating in a research note to investors on Friday. Finally, 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.
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.