ResMed (NYSE:RMD) Rating Increased to Buy at StockNews.com

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

RMD has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Piper Sandler upped their price target on shares of ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, March 5th. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group began coverage on ResMed in a research note on Thursday, January 16th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $249.73.

ResMed Stock Performance

RMD stock traded down $0.55 during midday trading on Tuesday, reaching $213.98. 1,769,512 shares of the company’s stock traded hands, compared to its average volume of 1,031,741. 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 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 PEG ratio of 1.53 and a beta of 0.75. The stock’s 50-day moving average is $224.63 and its 200 day moving average is $235.07.

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

Insider Buying and Selling at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. This represents a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $219.74, for a total transaction of $439,480.00. Following the sale, the director now owns 73,218 shares of the company’s stock, valued at $16,088,923.32. The trade was a 2.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,013 shares of company stock valued at $11,298,816 in the last quarter. 0.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Simon Quick Advisors LLC lifted its holdings in shares of ResMed by 18.3% in the 1st quarter. Simon Quick Advisors LLC now owns 1,951 shares of the medical equipment provider’s stock worth $437,000 after buying an additional 302 shares during the period. CX Institutional grew its holdings in ResMed by 6.8% during the 1st quarter. CX Institutional now owns 1,530 shares of the medical equipment provider’s stock worth $342,000 after acquiring an additional 97 shares in the last quarter. GAMMA Investing LLC grew its holdings in ResMed by 7.6% during the 1st quarter. GAMMA Investing LLC now owns 3,277 shares of the medical equipment provider’s stock worth $734,000 after acquiring an additional 231 shares in the last quarter. Yousif Capital Management LLC increased its position in ResMed by 0.5% during the 1st quarter. Yousif Capital Management LLC now owns 22,482 shares of the medical equipment provider’s stock valued at $5,033,000 after purchasing an additional 101 shares during the period. Finally, Pallas Capital Advisors LLC raised its holdings in shares of ResMed by 11.9% in the 1st quarter. Pallas Capital Advisors LLC now owns 3,098 shares of the medical equipment provider’s stock valued at $693,000 after purchasing an additional 330 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

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.