ResMed (NYSE:RMD) Raised 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 to investors on Tuesday.

Several other research analysts also recently commented on the company. KeyCorp lifted their target price on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Citigroup upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Piper Sandler upped their price objective 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. Finally, The Goldman Sachs Group began coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.83.

ResMed Stock Up 0.3 %

Shares of NYSE RMD opened at $221.90 on Tuesday. The company has a 50 day simple moving average of $234.39 and a 200 day simple moving average of $238.55. 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 1 year low of $172.19 and a 1 year high of $263.05. The firm has a market cap of $32.59 billion, a PE ratio of 26.20, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

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

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of the business’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 $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the sale, the insider now owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. The trade was a 50.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 38,940 shares of company stock worth $9,164,385. 0.71% of the stock is owned by insiders.

Hedge Funds Weigh In On ResMed

Several institutional investors and hedge funds have recently bought and sold shares of the company. True Wealth Design LLC increased its holdings in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares during the last quarter. Colonial Trust Co SC boosted its position in ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 125 shares during the period. Optiver Holding B.V. bought a new position in ResMed during the fourth quarter worth about $33,000. Itau Unibanco Holding S.A. raised its position 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 purchased a new stake in shares of ResMed during the 4th quarter valued at approximately $39,000. 54.98% of the stock is owned by 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.