ResMed (NYSE:RMD) Coverage Initiated at Robert W. Baird

Robert W. Baird started coverage on shares of ResMed (NYSE:RMD) in a report issued on Tuesday, Benzinga reports. The brokerage set an “outperform” rating and a $280.00 price target on the medical equipment provider’s stock. Robert W. Baird’s target price would indicate a potential upside of 13.74% from the company’s current price.

Several other analysts have also recently commented on RMD. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Wednesday, September 18th. KeyCorp upped their price target on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Wolfe Research restated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Finally, Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $207.00.

ResMed Trading Up 0.5 %

Shares of RMD opened at $246.18 on Tuesday. The stock’s fifty day simple moving average is $227.73 and its 200-day simple moving average is $209.99. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $36.17 billion, a PE ratio of 37.82, a price-to-earnings-growth ratio of 2.50 and a beta of 0.69. ResMed has a 12-month low of $132.24 and a 12-month high of $255.18.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm earned $1.60 EPS. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, research analysts predict that ResMed will post 8.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Kaushik Ghoshal sold 5,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the sale, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ResMed news, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total value of $1,262,800.00. Following the completion of the sale, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The disclosure for this sale can be found here. Insiders sold a total of 102,931 shares of company stock valued at $22,644,807 in the last quarter. 1.21% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Sanctuary Advisors LLC acquired a new stake in ResMed in the 2nd quarter valued at about $1,162,000. Dana Investment Advisors Inc. acquired a new stake in shares of ResMed in the second quarter valued at approximately $4,728,000. Cetera Investment Advisers boosted its stake in shares of ResMed by 26.8% during the 2nd quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock worth $1,861,000 after acquiring an additional 2,053 shares during the period. Greenvale Capital LLP increased its holdings in shares of ResMed by 61.1% during the 2nd quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after acquiring an additional 275,000 shares during the last quarter. Finally, Quarry LP raised its stake in ResMed by 271.9% in the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 242 shares during the period. Institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.