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UPDATE: Jefferies Reiterates Hold Rating, Raises PT on ResMed

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In a report published Friday, Jefferies reiterated its Hold rating on ResMed (NYSE: RMD), and raised its price target from $35.00 to $42.00.

Jefferies noted, “RMD reported strong FQ2 results with revs and EPS beating by $13mm and $0.02. The upside was across the board, albeit off favorable year ago comps. Although we have clearly missed the ride, the tailwinds of HST & cardio adoption coupled with margin benefits from mix and Shanghai manufacturing are still blowing. That said, the stock is fully valued and Round II implementation in the US remains a hard to handicap risk keeping us at Hold.”

ResMed closed on Thursday at $45.47.

Latest Ratings for RMD

DateFirmActionFromTo
Sep 2016Bank of AmericaUpgradesNeutralBuy
Sep 2016JP MorganDowngradesOverweightNeutral
Aug 2016JefferiesDowngradesHoldUnderperform

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