Needham analyst Michael Matson maintained a Hold rating on Resmed Inc (RMD) on May 3. The company’s shares closed yesterday at $112.34.
Matson wrote:
“RMD’s revenue and EPS beat consensus in F3Q19. Revenue growth improved to 8% CC organic in F3Q19 vs. 5% CC organic in F2Q19. International growth improved sequentially despite headwinds in France and Japan. Management estimates RMD gained market share in both masks and flow generators. Gross margin was up 100 bps Y/Y (mainly due to the MatrixCare acquisition) while operating margin was up 60 bps Y/Y. We maintain our Hold rating given RMD’s valuation.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 10.7% and a 66.0% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
Resmed Inc has an analyst consensus of Hold, with a price target consensus of $80, implying a -28.8% downside from current levels. In a report issued on April 18, J.P. Morgan also upgraded the stock to Hold.
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Resmed Inc’s market cap is currently $16.1B and has a P/E ratio of 36.44. The company has a Price to Book ratio of 7.97.
Based on the recent corporate insider activity of 125 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.
