ResMed (NYSE:RMD) Upgraded at Citigroup

Citigroup upgraded shares of ResMed (NYSE:RMD) from a neutral rating to a buy rating in a research note issued to investors on Wednesday,Benzinga reports.

Other equities research analysts have also issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a research note on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They issued a “buy” rating on the stock. KeyCorp increased their price target on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, Stifel Nicolaus dropped their price target on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $243.82.

ResMed Trading Down 3.3 %

RMD stock opened at $223.76 on Wednesday. ResMed has a one year low of $172.19 and a one year high of $263.05. The company has a market capitalization of $32.86 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 1.53 and a beta of 0.70. The company’s 50 day moving average price is $236.90 and its two-hundred day moving average price is $239.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. As a group, analysts predict that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a dividend of $0.53 per share. The ex-dividend date is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.95%. ResMed’s payout ratio is 25.03%.

Insider Buying and Selling at ResMed

In related news, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. This trade represents a 1.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kaushik Ghoshal sold 9,113 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now directly owns 9,725 shares in the company, valued at $2,289,265. This trade represents a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,186 shares of company stock valued at $4,541,226. 0.71% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ResMed

Several large investors have recently modified their holdings of the stock. True Wealth Design LLC grew its position in ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the last quarter. Colonial Trust Co SC increased its position in shares of ResMed by 6,250.0% during the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new position in ResMed in the 4th quarter worth approximately $33,000. Ashton Thomas Securities LLC purchased a new position in ResMed in the 3rd quarter worth approximately $34,000. Finally, Itau Unibanco Holding S.A. lifted its position in ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 150 shares in the last quarter. Hedge funds and other institutional investors 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.