ResMed (NYSE:RMD) Stock Rating Upgraded by StockNews.com

ResMed (NYSE:RMD) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

A number of other research analysts 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. KeyCorp lifted their price target on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America lifted their price target on shares of ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $218.18.

ResMed Stock Down 0.3 %

Shares of NYSE:RMD opened at $238.46 on Tuesday. The stock has a market cap of $35.03 billion, a price-to-earnings ratio of 36.63, a P/E/G ratio of 2.14 and a beta of 0.69. The company has a 50 day moving average of $237.80 and a 200-day moving average of $215.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed has a one year low of $132.24 and a one year high of $255.18.

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

Insider Activity at ResMed

In related news, insider Kaushik Ghoshal sold 4,260 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total transaction of $1,015,924.80. Following the completion of the sale, the insider now owns 21,788 shares of the company’s stock, valued at $5,196,002.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Justin Leong sold 48,000 shares of the stock in a transaction dated 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 transaction, the insider now owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 4,260 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,196,002.24. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,874 shares of company stock worth $28,151,142. Corporate insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Bleakley Financial Group LLC increased its position in ResMed by 3.6% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,234 shares of the medical equipment provider’s stock valued at $545,000 after purchasing an additional 78 shares during the period. Patton Fund Management Inc. acquired a new stake in shares of ResMed during the 3rd quarter worth approximately $6,047,000. nVerses Capital LLC grew its position in shares of ResMed by 269.2% during the 3rd quarter. nVerses Capital LLC now owns 4,800 shares of the medical equipment provider’s stock worth $1,172,000 after buying an additional 3,500 shares during the period. Hengehold Capital Management LLC acquired a new stake in shares of ResMed during the 3rd quarter worth approximately $213,000. Finally, Indiana Trust & Investment Management Co acquired a new stake in shares of ResMed during the 3rd quarter worth approximately $98,000. Institutional investors own 54.98% of the company’s stock.

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.