Needham & Company LLC Reiterates “Hold” Rating for ResMed (NYSE:RMD)

ResMed (NYSE:RMD)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a research report issued on Tuesday, Benzinga reports.

A number of other analysts have also recently issued reports on RMD. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. KeyCorp increased their price objective on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Robert W. Baird assumed coverage on shares of ResMed in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $280.00 target price for the company. Royal Bank of Canada increased their target price on ResMed from $204.00 to $206.00 and gave the stock a “sector perform” rating in a report on Friday, August 2nd. Finally, Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, ResMed presently has an average rating of “Moderate Buy” and an average price target of $213.75.

ResMed Trading Up 0.0 %

RMD opened at $238.86 on Tuesday. The firm’s fifty day moving average is $232.69 and its two-hundred day moving average is $212.33. The firm has a market cap of $35.10 billion, a PE ratio of 36.69, a price-to-earnings-growth ratio of 2.36 and a beta of 0.69. ResMed has a twelve month low of $132.24 and a twelve month high of $255.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts anticipate that ResMed will post 8.97 EPS for the current year.

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the transaction, the director now directly owns 87,204 shares in the company, valued at approximately $20,920,239.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $194.35, for a total value of $194,350.00. Following the completion of the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $239.90, for a total value of $479,800.00. Following the transaction, the director now owns 87,204 shares in the company, valued at approximately $20,920,239.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 104,931 shares of company stock valued at $23,119,207. 1.21% of the stock is currently owned by corporate insiders.

Institutional Trading of ResMed

Large investors have recently modified their holdings of the stock. OFI Invest Asset Management bought a new stake in ResMed during the second quarter worth about $32,000. BOK Financial Private Wealth Inc. bought a new stake in shares of ResMed during the 1st quarter worth approximately $35,000. Versant Capital Management Inc boosted its position in shares of ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 120 shares in the last quarter. Financial Connections Group Inc. acquired a new stake in shares of ResMed during the 2nd quarter worth approximately $37,000. Finally, Riverview Trust Co bought a new position in ResMed in the first quarter valued at approximately $42,000. 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. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.