ResMed (NYSE:RMD) Upgraded at StockNews.com

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

A number of other equities analysts have also weighed in on RMD. Piper Sandler upped their price objective on ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. KeyCorp lifted their price objective 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. The Goldman Sachs Group assumed coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $243.82.

ResMed Price Performance

NYSE RMD opened at $224.46 on Friday. 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 has a 12 month low of $172.19 and a 12 month high of $263.05. The stock has a market cap of $32.97 billion, a price-to-earnings ratio of 26.50, a PEG ratio of 1.53 and a beta of 0.74. The company’s 50 day moving average is $236.09 and its two-hundred day moving average is $239.66.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating the consensus estimate 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, research analysts anticipate that ResMed will post 9.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be paid 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 0.94%. ResMed’s payout ratio is currently 25.03%.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This represents a 2.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $239.31, for a total value of $2,332,075.95. Following the transaction, the insider now owns 9,725 shares of the company’s stock, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 over the last ninety days. Company insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RMD. Apollon Wealth Management LLC grew its stake in ResMed by 15.1% in the 3rd quarter. Apollon Wealth Management LLC now owns 1,451 shares of the medical equipment provider’s stock worth $354,000 after acquiring an additional 190 shares in the last quarter. GSA Capital Partners LLP bought a new stake in ResMed during the 3rd quarter valued at $410,000. Victory Capital Management Inc. raised its position in ResMed by 11.4% during the 3rd quarter. Victory Capital Management Inc. now owns 116,710 shares of the medical equipment provider’s stock valued at $28,491,000 after purchasing an additional 11,914 shares in the last quarter. Huntington National Bank lifted its holdings in shares of ResMed by 6.9% in the 3rd quarter. Huntington National Bank now owns 1,868 shares of the medical equipment provider’s stock worth $456,000 after buying an additional 120 shares during the period. Finally, KBC Group NV increased its position in ResMed by 255.3% during the 3rd quarter. KBC Group NV now owns 72,731 shares of the medical equipment provider’s stock valued at $17,756,000 after purchasing an additional 52,259 shares during the period. 54.98% of the stock is currently owned by institutional investors.

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.