ResMed (NYSE:RMD) Upgraded by StockNews.com to Buy Rating

ResMed (NYSE:RMD) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other equities research analysts have also recently issued research reports about the stock. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Piper Sandler upped their target price on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their price target on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Finally, KeyCorp increased their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $243.82.

ResMed Stock Up 2.2 %

RMD stock opened at $224.48 on Friday. The company has a 50 day moving average of $236.30 and a two-hundred day moving average of $239.83. ResMed has a 12-month low of $172.19 and a 12-month high of $263.05. The company has a market cap of $32.97 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.53 and a beta of 0.74. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating 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, equities analysts anticipate that ResMed will post 9.47 earnings per share for the current fiscal year.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 over the last ninety days. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Menard Financial Group LLC purchased a new position in shares of ResMed during the 4th quarter valued at about $98,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in ResMed in the 4th quarter worth approximately $19,540,000. ABLE Financial Group LLC increased its stake in ResMed by 2.8% in the 4th quarter. ABLE Financial Group LLC now owns 2,639 shares of the medical equipment provider’s stock worth $604,000 after acquiring an additional 72 shares during the last quarter. Forum Financial Management LP bought a new position in shares of ResMed during the 4th quarter valued at approximately $273,000. Finally, Toronto Dominion Bank increased its position in shares of ResMed by 4.3% during the 4th quarter. Toronto Dominion Bank now owns 51,349 shares of the medical equipment provider’s stock valued at $11,743,000 after purchasing an additional 2,099 shares during the last quarter. 54.98% of the stock is owned by hedge funds and other institutional investors.

About ResMed

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.