StockNews.com Downgrades ResMed (NYSE:RMD) to Hold

ResMed (NYSE:RMD) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

A number of other analysts also recently weighed in on RMD. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, January 31st. KeyCorp increased their price target on ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. The Goldman Sachs Group started coverage on ResMed in a report on Thursday, January 16th. They set a “buy” rating for the company. UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average target price of $243.82.

ResMed Stock Performance

NYSE RMD opened at $232.40 on Friday. The company has a market capitalization of $34.13 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.53 and a beta of 0.74. ResMed has a twelve month low of $172.19 and a twelve month high of $263.05. The stock has a fifty day simple moving average of $236.70 and a 200 day simple moving average of $239.93. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last posted 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%. Sell-side analysts expect that ResMed will post 9.47 EPS for the current year.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the firm’s 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 transaction, the director now owns 77,218 shares of the company’s stock, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 8,009 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares in the company, valued at approximately $107,842,105.44. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,186 shares of company stock valued at $4,996,646. 0.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ResMed

Several hedge funds have recently modified their holdings of the company. Menard Financial Group LLC bought a new position in shares of ResMed during the 4th quarter worth approximately $98,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of ResMed during the 4th quarter worth approximately $19,540,000. ABLE Financial Group LLC lifted its position in shares of ResMed by 2.8% during the 4th quarter. ABLE Financial Group LLC now owns 2,639 shares of the medical equipment provider’s stock worth $604,000 after buying an additional 72 shares in the last quarter. Forum Financial Management LP bought a new position in shares of ResMed during the 4th quarter worth approximately $273,000. Finally, Toronto Dominion Bank lifted its position in shares of ResMed by 4.3% during the 4th quarter. Toronto Dominion Bank now owns 51,349 shares of the medical equipment provider’s stock worth $11,743,000 after buying an additional 2,099 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.