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Downgrade Alert for ResMed (RMD)

By Nick Russo

ResMed (NYSE:RMD) was downgraded from Hold to Underperform at Needham today. The stock closed yesterday at $59.22 on volume of 1.3 million shares, above average daily volume of 1.1 million.

ResMed Inc. develops, manufactures, and markets medical equipment for the treatment of sleep disordered breathing. The Company sells diagnostic and treatment devices in various countries through its subsidiaries and independent distributors.

Potential upside of 3.3% exists for ResMed, based on a current level of $59.22 and analysts' average consensus price target of $61.18. The stock should find initial support at its 50-day moving average (MA) of $58.01 and further support at its 200-day MA of $55.89.

In the past 52 weeks, shares of ResMed have traded between a low of $48.99 and a high of $66.62 and closed yesterday at $59.22, which is 21% above that low price. The 200-day and 50-day moving averages have moved 0.04% lower and 0.33% lower over the past week, respectively.

SmarTrend is tracking the current trend status for ResMed and will alert subscribers who have RMD in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades resmed

Ticker(s): RMD