ResMed (RMD) was Initiated by JP Morgan to “Neutral” and the brokerage firm has set the Price Target at $64. JP Morgan advised their investors in a research report released on Oct 4, 2016.
Many Wall Street Analysts have commented on ResMed. ResMed was Upgraded by BofA/Merrill to ” Buy” on Sep 29, 2016. ResMed was Downgraded by Jefferies to ” Underperform” on Aug 23, 2016.
On the company’s financial health, ResMed reported $0.74 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $0.75. The company had revenue of $518.60 million for the quarter, compared to analysts expectations of $514.35 million. The company’s revenue was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 EPS.
ResMed opened for trading at $64.84 and hit $65.38 on the upside on Friday, eventually ending the session at $64.79, with a gain of 0.90% or 0.58 points. The heightened volatility saw the trading volume jump to 9,22,766 shares. Company has a market cap of $9,116 M.
In a different news, on Sep 16, 2016, Michael J. Farrell (Chief Executive Officer) sold 5,975 shares at $64.84 per share price. According to the SEC, on Sep 8, 2016, Peter C Farrell (director) sold 20,000 shares at $67.29 per share price. On Sep 8, 2016, David Pendarvis (Chief Administrative Officer) sold 6,000 shares at $67.18 per share price, according to the Form-4 filing with the securities and exchange commission.
ResMed Inc. is engaged in the development manufacturing distribution and marketing of medical products for the diagnosis treatment and management of respiratory disorders with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders including airflow generators diagnostic products mask systems headgear and other accessories. It produces continuous positive airway pressure variable positive airway pressure and AutoSet systems for the titration and treatment of SDB. Its products also include S9 Escape AirSense 10 Elite AirSense 10 CPAP S9 VPAP S S9 VPAP ST S9 VPAP Adapt S9 VPAP ST-A S9 VPAP COPD and AirCurve 10 V Auto among others. It markets sleep recorders for the diagnosis and titration of SDB in sleep clinics and hospitals. Its products include Quattro FX Swift FX for Her Mirage FX for Her Pixi Pediatric Mask Quattro FX for Her Swift FX Bella Swift FX Nano AirFit N10 and Apnealink Air.