Credit Suisse upgraded shares of ResMed Inc. (NYSE:RMD) from a neutral rating to an outperform rating in a report issued on Friday, The Fly reports.

Shares of ResMed (NYSE:RMD) traded down 0.97% during mid-day trading on Friday, hitting $58.45. The company had a trading volume of 468,194 shares. The firm has a 50-day moving average price of $54.34 and a 200 day moving average price of $54.91. The firm has a market capitalization of $8.18 billion and a P/E ratio of 23.76. ResMed has a 12 month low of $48.99 and a 12 month high of $75.33.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 21st. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.03. The firm had revenue of $454.54 million for the quarter, compared to analysts’ expectations of $445.46 million. During the same quarter in the prior year, the business earned $0.64 EPS. The company’s quarterly revenue was up 7.5% compared to the same quarter last year. On average, equities research analysts forecast that ResMed will post $2.70 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 17th. Stockholders of record on Thursday, February 11th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, February 9th. This represents a $1.20 annualized dividend and a dividend yield of 2.03%.

A number of other research analysts also recently issued reports on RMD. Barclays downgraded ResMed from an equal weight rating to an underweight rating and dropped their price target for the stock from $61.00 to $52.00 in a research note on Tuesday, January 19th. Zacks Investment Research downgraded ResMed from a buy rating to a hold rating in a research note on Monday, December 28th. Needham & Company LLC downgraded ResMed from a buy rating to a hold rating in a research note on Thursday, December 17th. Canaccord Genuity restated a hold rating and set a $54.00 price target on shares of ResMed in a research note on Friday, October 23rd. Finally, Deutsche Bank upgraded ResMed from a sell rating to a hold rating and raised their price target for the stock from $53.00 to $56.00 in a research note on Tuesday, October 6th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $58.00.

In related news, insider Donald Darkin sold 25,442 shares of ResMed stock in a transaction on Thursday, November 12th. The stock was sold at an average price of $57.72, for a total transaction of $1,468,512.24. Following the completion of the transaction, the insider now directly owns 13,684 shares of the company’s stock, valued at $789,840.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Robert Andrew Douglas sold 6,333 shares of ResMed stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $57.60, for a total value of $364,780.80. Following the transaction, the chief operating officer now directly owns 68,391 shares of the company’s stock, valued at $3,939,321.60. The disclosure for this sale can be found here.

A number of institutional investors have recently modified their holdings of the company. Commonwealth Equity Services purchased a new position in shares of ResMed during the fourth quarter valued at about $291,000. Leavell Investment Management Inc. boosted its position in shares of ResMed by 0.8% in the fourth quarter. Leavell Investment Management Inc. now owns 7,458 shares of the company’s stock valued at $400,000 after buying an additional 58 shares in the last quarter. Independent Portfolio Consultants purchased a new position in shares of ResMed during the fourth quarter valued at about $637,000. Palo Capital boosted its position in shares of ResMed by 6.9% in the third quarter. Palo Capital now owns 15,185 shares of the company’s stock valued at $774,000 after buying an additional 975 shares in the last quarter. Finally, Capital Impact Advisors purchased a new position in shares of ResMed during the fourth quarter valued at about $1,154,000.

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 (NYSE:RMD). 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.

12 Month Chart for NYSE:RMD

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