UPDATE: Northland Downgrades ResMed
In a note released Tuesday morning, Northland Securities downgraded ResMed (NYSE: RMD) from Market perform to Underperform and maintained its $40 price target.
In the note, Northland analyst cited "numerous forces" in the CPAP space that will squeeze margins and the top-line overtime. Furthermore, the analysts noted that ResMed's model is "highly sensitive" to operating margins and believe that consensus estimates are "unrealistic."
Shares of ResMed are down a little over one percent at $49.44 in Tuesday's trading.
Latest Ratings for RMD
|Jan 2017||JP Morgan||Upgrades||Neutral||Overweight|
|Sep 2016||Bank of America||Upgrades||Neutral||Buy|
|Sep 2016||JP Morgan||Downgrades||Overweight||Neutral|
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.