ResMed (NYSE:RMD) Rating Increased to Buy at StockNews.com

ResMed (NYSE:RMD) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other brokerages also recently weighed in on RMD. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Morgan Stanley started coverage on ResMed in a research note on Wednesday, March 19th. They set an “overweight” rating and a $280.00 target price for the company. KeyCorp lifted their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. lifted their target price on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $246.83.

ResMed Price Performance

ResMed stock opened at $222.95 on Tuesday. The stock’s fifty day moving average price is $234.76 and its two-hundred day moving average price is $238.83. The firm has a market cap of $32.74 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. ResMed has a one year low of $172.19 and a one year high of $263.05.

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

Insider Activity

In related news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now directly owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,940 shares of company stock valued at $9,164,385. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ResMed

A number of institutional investors have recently modified their holdings of RMD. Thrivent Financial for Lutherans boosted its position in ResMed by 12.2% during the third quarter. Thrivent Financial for Lutherans now owns 6,952 shares of the medical equipment provider’s stock valued at $1,697,000 after acquiring an additional 755 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of ResMed in the 3rd quarter valued at about $244,000. Cerity Partners LLC boosted its position in shares of ResMed by 82.0% during the 3rd quarter. Cerity Partners LLC now owns 13,686 shares of the medical equipment provider’s stock valued at $3,341,000 after purchasing an additional 6,167 shares in the last quarter. Summit Trail Advisors LLC grew its stake in ResMed by 15.6% during the third quarter. Summit Trail Advisors LLC now owns 1,497 shares of the medical equipment provider’s stock worth $365,000 after purchasing an additional 202 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in ResMed by 11.2% in the third quarter. Daiwa Securities Group Inc. now owns 23,799 shares of the medical equipment provider’s stock valued at $5,810,000 after buying an additional 2,389 shares during the period. 54.98% of the stock is owned by institutional investors.

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.