Needham Issues a Buy Rating on Resmed (RMD)
In a report released today, Michael Matson from Needham assigned a Buy rating to Resmed (RMD), with a price target of $229.00. The company’s shares closed last Monday at $227.90.
According to TipRanks.com, Matson is a 5-star analyst with an average return of 16.7% and a 68.5% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies, Cardiovascular Systems, and Zimmer Biomet Holdings.
Resmed has an analyst consensus of Strong Buy, with a price target consensus of $177.73, a -19.8% downside from current levels. In a report issued on June 9, CLSA also upgraded the stock to Buy with a price target.
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Resmed’s market cap is currently $31.81B and has a P/E ratio of 69.80. The company has a Price to Book ratio of 85.12.
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Founded in 1989, California-based ResMed, Inc. is a medical equipment company. The company is engaged in the development, manufacturing, distribution, and marketing of medical equipment and software solutions. The company operates through two segments: Sleep and Respiratory Care, and SaaS (Software as a Service).