Morgan Stanley Begins Coverage on ResMed (NYSE:RMD)

Investment analysts at Morgan Stanley started coverage on shares of ResMed (NYSE:RMD) in a report released on Wednesday. The brokerage set an “overweight” rating on the medical equipment provider’s stock.

RMD has been the subject of several other research reports. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research report on Friday, January 31st. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, KeyCorp increased their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.82.

ResMed Price Performance

Shares of RMD stock opened at $220.07 on Wednesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The company has a market capitalization of $32.32 billion, a P/E ratio of 25.98, a P/E/G ratio of 1.53 and a beta of 0.74. The company’s 50-day simple moving average is $235.76 and its two-hundred day simple moving average is $239.49. ResMed has a one year low of $172.19 and a one year high of $263.05.

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

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 9,725 shares in the company, valued at $2,289,265. This trade represents 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 valued at $9,164,385 over the last ninety days. Corporate insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ResMed

Several large investors have recently added to or reduced their stakes in the business. Howard Capital Management Inc. increased its position in shares of ResMed by 5.3% in the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock valued at $206,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC lifted its stake in shares of ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after acquiring an additional 48 shares during the period. SkyView Investment Advisors LLC lifted its stake in shares of ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after acquiring an additional 51 shares during the period. Wedmont Private Capital increased its holdings in shares of ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after purchasing an additional 52 shares in the last quarter. Finally, Faithward Advisors LLC increased its holdings in shares of ResMed by 4.3% in the 4th quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider’s stock valued at $292,000 after purchasing an additional 53 shares in 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.