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

StockNews.com upgraded shares of ResMed (NYSE:RMD) from a hold rating to a buy rating in a research note issued to investors on Tuesday.

A number of other brokerages have also weighed in on RMD. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. Royal Bank of Canada boosted their price objective on ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 1st. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a report on Tuesday, June 25th. Robert W. Baird initiated coverage on ResMed in a research note on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price objective for the company. Finally, KeyCorp increased their price target on ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.18.

ResMed Stock Performance

Shares of NYSE RMD opened at $240.00 on Tuesday. ResMed has a 12-month low of $132.24 and a 12-month high of $255.18. The company has a market cap of $35.22 billion, a PE ratio of 34.63, a P/E/G ratio of 2.17 and a beta of 0.69. The stock has a 50 day simple moving average of $238.78 and a 200-day simple moving average of $215.88. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 EPS. On average, equities research analysts forecast that ResMed will post 9.02 EPS for the current year.

ResMed Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.53 per share. This is a boost from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s payout ratio is currently 30.59%.

Insider Transactions at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 4,260 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $238.48, for a total value of $1,015,924.80. Following the transaction, the insider now owns 21,788 shares in the company, valued at $5,196,002.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the completion of the sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the transaction, the insider now directly owns 21,788 shares in the company, valued at $5,196,002.24. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 123,874 shares of company stock valued at $28,151,142. 0.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its holdings in ResMed by 359.4% in the 3rd quarter. Blue Trust Inc. now owns 974 shares of the medical equipment provider’s stock worth $238,000 after purchasing an additional 762 shares during the last quarter. Moss Adams Wealth Advisors LLC raised its position in shares of ResMed by 2.0% in the third quarter. Moss Adams Wealth Advisors LLC now owns 3,043 shares of the medical equipment provider’s stock valued at $743,000 after purchasing an additional 60 shares during the period. OmniStar Financial Group Inc. acquired a new stake in shares of ResMed in the third quarter worth $912,000. Aaron Wealth Advisors LLC bought a new stake in shares of ResMed during the 3rd quarter worth $313,000. Finally, Claro Advisors LLC grew its stake in ResMed by 67.4% in the 3rd quarter. Claro Advisors LLC now owns 6,422 shares of the medical equipment provider’s stock valued at $1,568,000 after buying an additional 2,586 shares during the last quarter. Institutional investors and hedge funds 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.