StockNews.com Upgrades ResMed (NYSE:RMD) to Buy

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

Several other research analysts have also issued reports on the company. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Stifel Nicolaus lowered their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. KeyCorp upped their price target 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. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, JPMorgan Chase & Co. upped 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 investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.73.

ResMed Stock Down 0.3 %

Shares of RMD stock traded down $0.55 during mid-day trading on Tuesday, hitting $213.98. 1,769,512 shares of the stock traded hands, compared to its average volume of 1,031,741. The stock’s fifty day moving average is $224.63 and its two-hundred day moving average is $235.07. 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 52-week low of $172.19 and a 52-week high of $263.05. The stock has a market cap of $31.43 billion, a P/E ratio of 25.26, a P/E/G ratio of 1.53 and a beta of 0.75.

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

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $209.85, for a total value of $1,680,688.65. Following the completion of the sale, the chief executive officer now owns 455,472 shares in the company, valued at approximately $95,580,799.20. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 49,013 shares of company stock valued at $11,298,816. 0.71% of the stock is owned by company insiders.

Institutional Trading of ResMed

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in ResMed by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 18,173,462 shares of the medical equipment provider’s stock worth $4,156,089,000 after purchasing an additional 160,590 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of ResMed by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 3,944,084 shares of the medical equipment provider’s stock worth $899,860,000 after buying an additional 85,270 shares in the last quarter. Invesco Ltd. boosted its position in ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider’s stock worth $531,706,000 after acquiring an additional 566,046 shares during the last quarter. Northern Trust Corp grew its stake in ResMed by 20.6% during the 4th quarter. Northern Trust Corp now owns 1,702,590 shares of the medical equipment provider’s stock valued at $389,365,000 after acquiring an additional 290,664 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in ResMed by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 957,020 shares of the medical equipment provider’s stock valued at $218,861,000 after acquiring an additional 32,973 shares in the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

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.