ResMed (NYSE:RMD) Upgraded by Citigroup to Buy Rating

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

Several other analysts have also commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Stifel Nicolaus dropped their price objective on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday. UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Finally, The Goldman Sachs Group began coverage on ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $243.82.

ResMed Stock Performance

Shares of RMD opened at $223.76 on Wednesday. The stock has a 50 day moving average of $236.90 and a 200 day moving average of $239.90. The company has a market capitalization of $32.86 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.53 and a beta of 0.70. ResMed has a 12 month low of $172.19 and a 12 month high of $263.05. 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 announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. As a group, sell-side analysts forecast that ResMed will post 9.47 earnings per share for the current year.

ResMed Announces Dividend

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

Insider Transactions at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the transaction, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This represents a 2.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $235.40, for a total value of $2,145,200.20. Following the sale, the insider now directly owns 9,725 shares of the company’s stock, valued at $2,289,265. This represents a 48.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, 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.

Institutional Trading of ResMed

Several institutional investors and hedge funds have recently modified their holdings of the business. Howard Capital Management Inc. increased its position in shares of ResMed by 5.3% in the fourth quarter. Howard Capital Management Inc. now owns 900 shares of the medical equipment provider’s stock worth $206,000 after purchasing an additional 45 shares during the last quarter. Ascent Group LLC grew its stake in ResMed by 1.7% in the 3rd quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after buying an additional 48 shares in the last quarter. SkyView Investment Advisors LLC increased its holdings in shares of ResMed by 2.0% in the 3rd quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after buying an additional 51 shares during the last quarter. Wedmont Private Capital raised its position in shares of ResMed by 2.6% during the 4th quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after buying an additional 52 shares in the last quarter. Finally, Faithward Advisors LLC lifted its holdings in shares of ResMed by 4.3% during the 4th quarter. Faithward Advisors LLC now owns 1,279 shares of the medical equipment provider’s stock worth $292,000 after acquiring an additional 53 shares during 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.