ResMed (NYSE:RMD) Trading Up 4.4% – Time to Buy?

Shares of ResMed Inc. (NYSE:RMD) shot up 4.4% on Monday . The company traded as high as $243.37 and last traded at $242.76. 611,825 shares traded hands during trading, a decline of 37% from the average session volume of 968,424 shares. The stock had previously closed at $232.44.

Analyst Ratings Changes

Several research firms have commented on RMD. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, January 31st. UBS Group upgraded shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. KeyCorp raised their price objective on shares of 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 assumed coverage on shares of ResMed in a research note on Thursday, January 16th. They issued a “buy” rating on the stock. Finally, Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $243.82.

ResMed Stock Performance

The business’s 50 day simple moving average is $236.70 and its two-hundred day simple moving average is $240.04. The firm has a market capitalization of $34.87 billion, a PE ratio of 28.03, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. 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 data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating 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%. Research analysts expect that ResMed Inc. will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio (DPR) is presently 25.03%.

Insider Buying and Selling

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated 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 sale, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total transaction of $2,145,200.20. Following the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,186 shares of company stock valued at $4,996,646. 0.71% of the stock is owned by insiders.

Institutional Trading of ResMed

Institutional investors have recently made changes to their positions in the business. First Horizon Advisors Inc. lifted its stake in ResMed by 285.1% in the 4th quarter. First Horizon Advisors Inc. now owns 593 shares of the medical equipment provider’s stock worth $136,000 after purchasing an additional 439 shares in the last quarter. Peak Financial Advisors LLC bought a new position in shares of ResMed during the 4th quarter valued at approximately $2,972,000. Principal Financial Group Inc. increased its holdings in shares of ResMed by 2.9% in the 3rd quarter. Principal Financial Group Inc. now owns 186,776 shares of the medical equipment provider’s stock worth $45,596,000 after buying an additional 5,284 shares during the last quarter. Spire Wealth Management boosted its holdings in shares of ResMed by 11.3% in the 4th quarter. Spire Wealth Management now owns 10,800 shares of the medical equipment provider’s stock worth $2,470,000 after purchasing an additional 1,100 shares during the period. Finally, Asset Management One Co. Ltd. grew its holdings in ResMed by 2.8% during the 4th quarter. Asset Management One Co. Ltd. now owns 60,489 shares of the medical equipment provider’s stock valued at $14,105,000 after purchasing an additional 1,629 shares during the last quarter. Hedge funds and other institutional investors 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.