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

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

Several other analysts have also issued reports on RMD. Royal Bank of Canada boosted their price target on shares of ResMed from $247.00 to $255.00 and gave the company a “sector perform” rating in a research report on Thursday, April 24th. Stifel Nicolaus reduced their price objective on shares of ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, March 5th. The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Mizuho set a $265.00 price target on ResMed in a research report on Wednesday, April 16th. Finally, Morgan Stanley started coverage on ResMed in a report on Wednesday, March 19th. They set an “overweight” rating and a $280.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $258.83.

ResMed Price Performance

ResMed stock opened at $239.84 on Friday. The business’s 50 day simple moving average is $222.32 and its 200 day simple moving average is $233.98. ResMed has a 12 month low of $179.42 and a 12 month high of $263.05. The company has a market cap of $35.17 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 1.53 and a beta of 0.75. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Wednesday, April 23rd. The medical equipment provider reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.01. ResMed had a return on equity of 26.17% and a net margin of 25.34%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $2.13 EPS. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. Sell-side analysts forecast that ResMed will post 9.47 EPS for the current year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 8th will be given a $0.53 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $2.12 annualized dividend and a yield of 0.88%. ResMed’s dividend payout ratio (DPR) is presently 23.79%.

Insider Activity at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the completion of the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,013 shares of company stock valued at $11,298,816 over the last 90 days. 0.71% of the stock is owned by insiders.

Institutional Investors Weigh In On ResMed

A number of large investors have recently added to or reduced their stakes in the company. Global X Japan Co. Ltd. lifted its stake in ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 68 shares during the period. Colonial Trust Co SC raised its stake in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. purchased a new stake in ResMed in the fourth quarter worth about $33,000. Golden State Wealth Management LLC boosted its position in ResMed by 384.8% during the 1st quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 127 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its position in ResMed by 1,000.0% during 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. 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.