ResMed (NYSE:RMD) Earns “Hold” Rating from Needham & Company LLC

ResMed (NYSE:RMD)‘s stock had its “hold” rating reiterated by Needham & Company LLC in a research note issued on Friday,Benzinga reports.

A number of other analysts have also issued reports on RMD. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada upped their target price on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They issued a “buy” rating for the company. KeyCorp increased their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus initiated coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $238.40.

ResMed Stock Up 1.9 %

Shares of ResMed stock opened at $257.63 on Friday. ResMed has a 1-year low of $170.56 and a 1-year high of $263.05. The company has a market capitalization of $37.82 billion, a PE ratio of 34.12, a P/E/G ratio of 1.83 and a beta of 0.70. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The business has a 50-day moving average of $240.04 and a 200-day moving average of $235.84.

ResMed (NYSE:RMD) last issued 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 25.53% and a net margin of 23.15%. As a group, equities analysts forecast that ResMed will post 9.35 EPS for the current fiscal year.

Insider Activity

In related news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total value of $497,480.00. Following the completion of the transaction, the director now directly owns 83,204 shares of the company’s stock, valued at $20,696,162.96. This represents a 2.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now owns 21,718 shares in the company, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,030 shares of company stock valued at $2,702,687. 0.71% of the stock is currently owned by company insiders.

Institutional Trading of ResMed

Several institutional investors have recently modified their holdings of RMD. True Wealth Design LLC raised its position in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 110 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in ResMed during the third quarter worth approximately $34,000. Rosenberg Matthew Hamilton acquired a new position in ResMed in the fourth quarter worth approximately $54,000. Capital Performance Advisors LLP bought a new position in shares of ResMed in the third quarter valued at $60,000. Finally, Quarry LP lifted its position in shares of ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 242 shares during the last quarter. Institutional investors and hedge funds 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.