ResMed (RMD): Pricing Worse Than Expected - Jefferies

October 20, 2016 8:49 AM EDT
Get Alerts RMD Hot Sheet
Price: $61.37 +1.71%

Rating Summary:
    6 Buy, 8 Hold, 4 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 21 | Down: 18 | New: 19
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Jefferies analyst, Anthony Petrone, reiterated his Underperform rating on shares of ResMed (NYSE: RMD) after the DME Survey indicated that pricing is worse than expected.

Key take-aways:
1) 76% of respondents are seeking an average 14% price discount due to the lower CBNE/CB2 rates
2) 72% will sell an equal amount of more of Dream versus AirSense10 over next 12 months
3) RMD is well positioned in masks but new launch does not appear disruptive
4) Medicare NIV spend expected to decline following Sept OIG report.

The analyst stated that the survey results "are net negative for RMD and re-enforce our UP rating". No change to the price target of $58.

For an analyst ratings summary and ratings history on ResMed click here. For more ratings news on ResMed click here.

Shares of ResMed closed at $64.52 yesterday.



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