Resmed Inc Receives a Sell from Jefferies

By Jason Carr

Jefferies analyst Raj Denhoy reiterated a Sell rating on Resmed Inc (NYSE: RMD) on October 10 and set a price target of $56. The company’s shares closed yesterday at $76.55.

According to, Denhoy is a 5-star analyst with an average return of 12.8% and a 63.7% success rate. Denhoy covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Varian Medical Systems, and Zimmer Biomet Holdings.

Resmed Inc has an analyst consensus of Moderate Sell, with a price target consensus of $62.75.

Based on Resmed Inc’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $557 million and quarterly net profit of $102 million. In comparison, last year the company earned revenue of $465 million and had a net profit of $76.11 million.

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Christopher G. Roberts, a Director at RMD bought 25,934 shares for a total of $1,010,907.

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ResMed, Inc. engages in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders including sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease and other chronic diseases. Its product portfolio includes obstructive sleep apnea, and other respiratory disorders that occur during sleep. The company was founded by Peter C. Farrell in June 1989 and is headquartered in San Diego, CA.