Needham Keeps Their Hold Rating on Resmed Inc (RMD)


Needham analyst Michael Matson maintained a Hold rating on Resmed Inc (RMD) today. The company’s shares closed yesterday at $102.77.

Matson wrote:

“We worked with Sleep Review magazine and surveyed 166 sleep center employees. Compared to our prior survey in 3Q18, both actual last-12- month (LTM) patient and expected next-12-month (NTM) patient volume growth increased slightly. RMD’s flow generator ratings were above Respironics’ ratings while RMD’s mask ratings were the highest but only slightly above its competitors’ ratings. Despite its products’ higher ratings, RMD looks likely to lose branded flow generator prescription share and to lose branded mask prescription share. Overall, we think that the survey is mixed for RMD and we maintain our Hold rating.”

According to TipRanks.com, Matson is a top 100 analyst with an average return of 13.2% and a 67.1% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

The word on The Street in general, suggests a Hold analyst consensus rating for Resmed Inc with a $100 average price target.

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The company has a one-year high of $118.50 and a one-year low of $90.64. Currently, Resmed Inc has an average volume of 1.17M.

Based on the recent corporate insider activity of 116 insiders, corporate insider sentiment is neutral on the stock.

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ResMed, Inc. engages in the development, manufacturing, distribution, and marketing of medical equipment and software solutions. Its product portfolio includes devices, diagnostic products, mask systems, headgear and other accessories, and dental devices. The company was founded by Peter C. Farrell in June 1989 and is headquartered in San Diego, CA.

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