Stifel Nicolaus Issues Pessimistic Forecast for ResMed (NYSE:RMD) Stock Price

ResMed (NYSE:RMD) had its price target decreased by research analysts at Stifel Nicolaus from $250.00 to $240.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the medical equipment provider’s stock. Stifel Nicolaus’ target price would suggest a potential upside of 6.63% from the company’s previous close.

Several other research analysts have also recently issued reports on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Piper Sandler raised their target price on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group started coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average price target of $243.82.

ResMed Trading Up 0.6 %

NYSE RMD opened at $225.08 on Wednesday. The company has a fifty day simple moving average of $236.72 and a two-hundred day simple moving average of $239.80. The stock has a market cap of $33.06 billion, a P/E ratio of 26.57, a P/E/G ratio of 1.53 and a beta of 0.70. ResMed has a 12-month low of $172.19 and a 12-month high of $263.05. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. On average, analysts forecast that ResMed will post 9.47 earnings per share for the current year.

Insider Activity

In related news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the transaction, the insider now directly owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. The trade was a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,186 shares of company stock worth $4,996,646 over the last 90 days. 0.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ResMed

Institutional investors and hedge funds have recently bought and sold shares of the business. True Wealth Design LLC boosted its position in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the last quarter. Colonial Trust Co SC boosted its position in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 125 shares during the last quarter. Optiver Holding B.V. acquired a new position in ResMed during the fourth quarter worth about $33,000. Ashton Thomas Securities LLC acquired a new position in ResMed during the third quarter worth about $34,000. Finally, Itau Unibanco Holding S.A. boosted its position in ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after acquiring an additional 150 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.