Downgrade Alert for ResMed (RMD)
ResMed (NYSE:RMD) was downgraded from Hold to Underperform at Jefferies today. The stock closed yesterday at $67.32 on volume of 3.0 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.
Based on a current price of $67.32, ResMed is currently 9.1% above its average consensus analyst price target of $61.18. ResMed shares have support at the 50-day moving average (MA) of $58.01 and additional support at the 200-day MA of $55.89.
Over the past year, ResMed has traded in a range of $48.99 to $70.90 and closed yesterday at $67.32, 37% above that low. The 200-day and 50-day moving averages have moved 0.04% lower and 0.33% lower over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of ResMed on May 31st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $58.83. Since that recommendation, shares of ResMed have risen 18.6%. We continue to monitor RMD for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades resmed