ResMed (RMD) NewsBite - RMD Downgraded By Jefferies & Co.

Posted: Friday, November 06, 2009 11:09 AM EDT

ResMed (RMD) was downgraded today by analysts at Jefferies & Co. and the stock is now at $47.08, down $2.97 (-5.93%) on volume of 960,509 shares traded. The brokerage reduced RMD to Hold from Buy. Over the last 52 weeks the stock has ranged from a low of $30.53 to a high of $50.63. ResMed stock has been showing support around $48.57 and resistance in the $51.37 range. Technical indicators for the stock are bullish and S&P gives RMD a positive 4 STARS (out of 5) buy ranking. If you are looking for a hedged play on RMD the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 55 range. [ABR-Seven Summits Strategic Investments NewsBite]

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