ResMed (NYSE:RMD) Coverage Initiated by Analysts at Robert W. Baird

Equities researchers at Robert W. Baird assumed coverage on shares of ResMed (NYSE:RMD) in a research note issued to investors on Tuesday, Benzinga reports. The firm set an “outperform” rating and a $280.00 price target on the medical equipment provider’s stock. Robert W. Baird’s price target points to a potential upside of 13.74% from the stock’s current price.

RMD has been the subject of a number of other research reports. Royal Bank of Canada boosted their price objective on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a report on Friday, August 2nd. KeyCorp raised their price objective on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. 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. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $207.00.

ResMed Price Performance

Shares of NYSE RMD opened at $246.18 on Tuesday. The firm has a market cap of $36.17 billion, a P/E ratio of 37.82, a price-to-earnings-growth ratio of 2.50 and a beta of 0.69. The business’s 50 day moving average is $227.73 and its 200-day moving average is $209.99. 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 has a 1-year low of $132.24 and a 1-year high of $255.18.

ResMed (NYSE:RMD) last posted its quarterly earnings data 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. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.60 EPS. Equities research analysts predict that ResMed will post 8.92 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the completion of the sale, the chief executive officer now owns 440,799 shares in the company, valued at approximately $85,060,983.03. The disclosure for this sale can be found here. Insiders sold a total of 102,931 shares of company stock valued at $22,644,807 in the last 90 days. Corporate insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BOK Financial Private Wealth Inc. bought a new position in ResMed during the 1st quarter worth approximately $35,000. OFI Invest Asset Management acquired a new stake in shares of ResMed during the second quarter worth $32,000. Versant Capital Management Inc raised its stake in ResMed by 196.7% during the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new position in ResMed in the second quarter valued at $37,000. Finally, Riverview Trust Co bought a new stake in ResMed during the first quarter valued at $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.