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

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

A number of other brokerages also recently issued reports on RMD. JPMorgan Chase & Co. lifted 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. Morgan Stanley initiated coverage on shares of ResMed in a research note on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, ResMed has an average rating of “Moderate Buy” and a consensus price target of $249.73.

ResMed Price Performance

NYSE:RMD opened at $211.79 on Tuesday. The business’s 50-day simple moving average is $224.13 and its two-hundred day simple moving average is $234.91. ResMed has a 52 week low of $172.19 and a 52 week high of $263.05. The stock has a market cap of $31.10 billion, a PE ratio of 25.00, a P/E/G ratio of 1.53 and a beta of 0.75. 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 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, analysts forecast that ResMed will post 9.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $209.85, for a total transaction of $1,680,688.65. Following the completion of the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $95,580,799.20. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s 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 transaction, the director now directly owns 77,218 shares in the company, valued at approximately $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 49,013 shares of company stock worth $11,298,816 in the last three months. Corporate insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Colonial Trust Co SC increased its position in shares of ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 125 shares during the period. Optiver Holding B.V. acquired a new position in shares of ResMed in the fourth quarter valued at about $33,000. Itau Unibanco Holding S.A. raised its stake in shares of ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares during the last quarter. OFI Invest Asset Management acquired a new stake in shares of ResMed during the fourth quarter worth about $39,000. Finally, Coppell Advisory Solutions LLC boosted its holdings in shares of ResMed by 1,750.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

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.