Notable Downgrades: ResMed Inc. (RMD), Dish Network (DISH), Zillow Group (Z), Exar Corp. (EXAR), GlaxoSmithKline (GSK)

Analysts at BofA/Merrill (BAC) downgraded ResMed Inc. (RMD) from ‘Buy‘ to ‘Neutral‘ in a research report issued to clients on Wednesday.

On valuation measures, ResMed Inc. stock it’s trading at a forward P/E multiple of 19.93x, and at a multiple of 22.36x this year’s estimated earnings. The t-12-month revenue at ResMed Inc. is $1.64 billion. RMD ‘s ROE for the same period is 21.89%.

Shares of the $7.78 billion market cap company are up 29.70% year-over-year and 17.13% year-to-date.

ResMed Inc., currently with a median Wall Street price target of $68.71 and a high target of $86.60, dropped $10.14 to $55.21 in recent trading.

The chart below shows where the equity has traded over the past 52-weeks.

Dish Network Corp. (DISH) was reiterated a ‘Sector Perform’ by RBC Capital Markets analysts on Wednesday. The broker also cut its price target on the stock to $75 from $81.

On Wednesday, Dish Network Corp. printed a higher than average trading volume with the issue trading 1.4 million shares, compared to the average volume of 1.28 million. The stock began trading this morning at $65.98 to currently trade 0.08% higher from the prior days close of $65.92. On an intraday basis it has gotten as low as $65.87 and as high as $66.44.

DISH shares have declined 6.43% in the last 4 weeks and 14.32% in the past three months. Over the past 5 trading sessions the stock has lost 1.80%. Shares of Dish Network Corp. are down 9.56% this year.

Shares of Zillow Group, Inc. (Z) are down $0.50 to $97.49 in mid-day trading after Barclays reiterated its ‘Equal Weight’ rating and decreased its 12-month base case estimate on the name by 5 points to $90 a share.

The stock is down 1.85% year-over-year and has lost roughly 7.50% year-to-date. In the past 52 weeks, shares of the Charlotte, North Carolina-based real estate firm have traded between a low of $81.07 and a high of $164.90.

Zillow Group, Inc. closed Tuesday at $97.98. The name has a current market cap of $5.68 billion.

Shares of Exar Corp. (EXAR) are down $0.27 at $9.78, after ROTH Capital this morning lowered its price target on the shares to $13 from $16, while reiterating a ‘Buy’ rating.

Exar Corp., currently valued at $463.99 million, has a median Wall Street price target of $13.00 with a high target of $14.00. Approximately 730K shares have already changed hands, compared to the stock’s average daily volume of 170K.

In the past 52 weeks, shares of Fremont, California-based fabless semiconductor company have traded between a low of $8.25 and a high of $11.55 with the 50-day MA and 200-day MA located at $10.27 and $9.94 levels, respectively. Additionally, shares of EXAR have a Relative Strength Index (RSI) and MACD indicator of 37.92 and -0.06, respectively.

Exar Corp. currently prints a year-to-date loss of 1.47%.

Shares of GlaxoSmithKline plc (GSK) are down 0.13% to $44.60 in midday trading after UBS downgraded its rating on the name to ‘Neutral’ from ‘Buy.’

On valuation measures, GlaxoSmithKline plc shares are currently priced at 6.90x this year’s forecasted earnings compared to the industry’s 2.55x earnings multiple. Ticker has a forward P/E ratio 16.65. T-12 price/sales is 3.04 while EPS is $6.46. Currently there are 8 analysts that rate GSK a ‘Buy’, 14 rate it a ‘Hold’. 6 analysts rate it a ‘Sell’. GSK has a median Wall Street price target of $47.00 with a high target of $55.25.

In the past 52 weeks, shares of Brentford, the UK-based firm have traded between a low of $41.25 and a high of $55.60 and are now at $44.58. Shares are down 13.41% year-over-year ; up 7.49% year-to-date.

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