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Downgrade Alert for ResMed (RMD)

By David Diaz

ResMed (NYSE:RMD) was downgraded from Overweight to Neutral at Piper Jaffray today. The stock closed yesterday at $56.65 on volume of 2.6 million shares, above average daily volume of 963,000.

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 $56.65, which is 16% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Potential upside of 8.0% exists for ResMed, based on a current level of $56.65 and analysts' average consensus price target of $61.18. The stock should hit resistance at its 50-day moving average (MA) of $58.33, as well as support at its 200-day MA of $55.93.

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.

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