ResMed (NYSE:RMD) Coverage Initiated at The Goldman Sachs Group

The Goldman Sachs Group initiated coverage on shares of ResMed (NYSE:RMD) in a research note published on Thursday, MarketBeat Ratings reports. The brokerage issued a buy rating on the medical equipment provider’s stock.

A number of other equities analysts have also weighed in on the stock. Wolfe Research restated an “underperform” rating and set a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Stifel Nicolaus began coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 target price on the stock. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Baird R W raised shares of ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $233.09.

ResMed Trading Up 1.6 %

NYSE RMD opened at $237.19 on Thursday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The firm has a market cap of $34.82 billion, a PE ratio of 31.42, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. The company has a 50 day moving average price of $238.99 and a 200 day moving average price of $232.06. ResMed has a 52 week low of $168.29 and a 52 week high of $260.49.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.19 billion. During the same quarter in the prior year, the business earned $1.64 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts forecast that ResMed will post 9.36 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were issued a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.89%. ResMed’s payout ratio is 28.08%.

Insider Activity

In other ResMed news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the completion of the transaction, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 11,099 shares of company stock worth $2,719,385 over the last 90 days. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ResMed

Several hedge funds and other institutional investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of ResMed by 1.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 66,597 shares of the medical equipment provider’s stock valued at $15,230,000 after acquiring an additional 1,027 shares during the period. LVW Advisors LLC boosted its holdings in shares of ResMed by 23.4% during the fourth quarter. LVW Advisors LLC now owns 3,098 shares of the medical equipment provider’s stock valued at $708,000 after acquiring an additional 587 shares during the period. Aaron Wealth Advisors LLC boosted its holdings in shares of ResMed by 25.2% during the fourth quarter. Aaron Wealth Advisors LLC now owns 1,607 shares of the medical equipment provider’s stock valued at $368,000 after acquiring an additional 323 shares during the period. Integrated Investment Consultants LLC acquired a new position in shares of ResMed during the fourth quarter valued at $1,378,000. Finally, Brooklyn Investment Group boosted its holdings in shares of ResMed by 8.1% during the fourth quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider’s stock valued at $208,000 after acquiring an additional 68 shares during the period. Institutional investors and hedge funds 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.