ResMed (NYSE:RMD) Upgraded at StockNews.com

StockNews.com upgraded shares of ResMed (NYSE:RMD) from a hold rating to a buy rating in a research report report published on Saturday.

RMD has been the subject of several other research reports. Stifel Nicolaus reduced their target price on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. boosted their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Finally, KeyCorp boosted their price target on ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $243.82.

ResMed Stock Up 0.1 %

Shares of RMD stock opened at $224.46 on Friday. ResMed has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The firm has a market capitalization of $32.97 billion, a PE ratio of 26.50, a P/E/G ratio of 1.53 and a beta of 0.74. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The stock’s 50-day simple moving average is $236.09 and its 200-day simple moving average is $239.66.

ResMed (NYSE:RMD) last issued 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%. Equities analysts expect that ResMed will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is presently 25.03%.

Insider Buying and Selling

In other news, insider Kaushik Ghoshal sold 9,745 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This represents a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,940 shares of company stock worth $9,164,385. Insiders own 0.71% of the company’s stock.

Institutional Investors Weigh In On ResMed

A number of large investors have recently made changes to their positions in the stock. True Wealth Design LLC boosted its stake in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Colonial Trust Co SC raised its holdings in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 125 shares during the period. Optiver Holding B.V. acquired a new position in shares of ResMed during the 4th quarter valued at about $33,000. Itau Unibanco Holding S.A. grew its holdings 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 valued at $38,000 after purchasing an additional 150 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in ResMed during the fourth quarter worth about $39,000. 54.98% of the stock is currently 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.