ResMed (NYSE:RMD) Rating Increased to Strong-Buy at Baird R W

ResMed (NYSE:RMD) was upgraded by analysts at Baird R W to a “strong-buy” rating in a research note issued on Tuesday, Zacks.com reports.

Several other equities research analysts have also recently issued reports on RMD. Bank of America lifted their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday. Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com cut ResMed from a “buy” rating to a “hold” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada increased their price target on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $212.25.

ResMed Trading Up 0.7 %

Shares of RMD stock opened at $242.48 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The stock has a fifty day simple moving average of $229.23 and a two-hundred day simple moving average of $210.62. The firm has a market capitalization of $35.62 billion, a PE ratio of 37.25, a PEG ratio of 2.45 and a beta of 0.69. ResMed has a 52-week low of $132.24 and a 52-week high of $255.18.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business posted $1.60 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. On average, analysts predict that ResMed will post 8.92 EPS for the current fiscal year.

Insider Activity at ResMed

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total transaction of $479,800.00. Following the completion of the transaction, the director now directly owns 87,204 shares of the company’s stock, valued at $20,920,239.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $239.90, for a total value of $479,800.00. Following the completion of the sale, the director now 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 is available through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,931 shares of company stock worth $22,644,807. Company insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

Hedge funds and other institutional investors have recently modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in ResMed by 24.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock valued at $35,068,000 after buying an additional 35,273 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of ResMed in the 1st quarter worth $2,246,000. Janney Montgomery Scott LLC grew its position in shares of ResMed by 5.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after buying an additional 4,075 shares in the last quarter. Los Angeles Capital Management LLC increased its stake in shares of ResMed by 3,599.0% during the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after buying an additional 485,540 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of ResMed in the fourth quarter valued at about $7,535,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Company Profile

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.