StockNews.com Upgrades ResMed (NYSE:RMD) to Buy

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

RMD has been the subject of a number of other reports. Stifel Nicolaus decreased their price target on ResMed from $250.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, March 5th. KeyCorp boosted their target price on shares of ResMed from $266.00 to $280.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Piper Sandler increased their price target on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, ResMed has an average rating of “Moderate Buy” and a consensus target price of $246.83.

ResMed Trading Down 0.7 %

Shares of ResMed stock opened at $221.40 on Tuesday. The stock has a market cap of $32.52 billion, a PE ratio of 26.14, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The firm has a fifty day moving average price of $234.61 and a 200 day moving average price of $238.66. ResMed has a 1 year low of $172.19 and a 1 year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29.

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

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.96%. ResMed’s dividend payout ratio (DPR) is currently 25.03%.

Insider Buying and Selling at ResMed

In other news, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction dated 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 directly owns 9,725 shares of the company’s stock, valued at approximately $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the sale, the director now directly owns 75,218 shares of the company’s stock, valued at approximately $17,127,890.78. This represents a 2.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock valued at $9,164,385 over the last quarter. 0.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Howard Capital Management Inc. raised its holdings in shares of ResMed by 5.3% during the 4th quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after acquiring an additional 45 shares during the period. Ascent Group LLC increased its position in ResMed by 1.7% during the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the period. Wedmont Private Capital boosted its holdings in ResMed by 2.6% in the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after purchasing an additional 52 shares during the last quarter. Finally, Faithward Advisors LLC grew its stake in shares of ResMed by 4.3% in the 4th quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider’s stock valued at $292,000 after buying an additional 53 shares during the period. 54.98% of the stock is 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. 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.