JP Morgan Downgrades ResMed to Neutral

Brokerage firm JP Morgan Downgrades its rating on ResMed(NYSE:RMD). The shares have been rated Neutral. Previously, the analysts had a Overweight rating on the shares. The rating by JP Morgan was issued on Sep 19, 2016.

In a different note, On Aug 23, 2016, Jefferies said it Downgrades its rating on ResMed. In the research note, the firm Lowers the price-target to $60.00 per share. The shares have been rated ‘Underperform’ by the firm. On Jul 29, 2016, Jefferies said it Maintains its rating on ResMed. In the research note, the firm Raises the price-target to $56.00 per share. The shares have been rated ‘Hold’ by the firm. On Jun 27, 2016, Needham said it Downgrades its rating on ResMed. The shares have been rated ‘Underperform’ by the firm.

ResMed (RMD) made into the market gainers list on Thursdays trading session with the shares advancing 0.28% or 0.18 points. Due to strong positive momentum, the stock ended at $63.98, which is also near the day’s high of $64.65. The stock began the session at $64.06 and the volume stood at 9,48,732 shares. The 52-week high of the shares is $70.9 and the 52 week low is $49.11. The company has a current market capitalization of $9,002 M and it has 14,06,99,940 shares in outstanding.

ResMed(RMD) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q4.Company reported revenue of $518.65M. Analysts had an estimated revenue of $512.21M. Earnings per share were $0.74. Analysts had estimated an EPS of $0.74.

Several Insider Transactions has been reported to the SEC. On Sep 16, 2016, Michael J. Farrell (Chief Executive Officer) sold 5,975 shares at $64.84 per share price.Also, 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.

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