ResMed (NYSE:RMD) Rating Reiterated by Needham & Company LLC

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

Several other analysts have also issued reports on the stock. KeyCorp boosted their target price on shares of ResMed from $238.00 to $251.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Baird R W upgraded ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America raised their target price on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Wolfe Research restated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Finally, Robert W. Baird raised their price objective on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.55.

ResMed Stock Performance

RMD stock opened at $256.07 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed has a 1 year low of $132.24 and a 1 year high of $260.49. The company has a market cap of $37.58 billion, a P/E ratio of 36.95, a price-to-earnings-growth ratio of 1.94 and a beta of 0.69. The stock’s fifty day moving average price is $240.79 and its 200-day moving average price is $217.99.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period last year, the firm posted $1.64 earnings per share. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. On average, equities analysts forecast that ResMed will post 9.08 earnings per share for the current year.

Insider Transactions at ResMed

In related news, insider Kaushik Ghoshal sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the completion of the transaction, the insider now owns 21,788 shares of the company’s stock, valued at $5,502,777.28. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin Leong sold 48,000 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total value of $10,419,360.00. Following the transaction, the insider now owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,874 shares of company stock valued at $28,151,142. 0.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. UMB Bank n.a. increased its position in ResMed by 1.9% in the third quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock worth $602,000 after purchasing an additional 47 shares during the last quarter. Dorsey & Whitney Trust CO LLC increased its holdings in shares of ResMed by 3.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after buying an additional 52 shares during the last quarter. QRG Capital Management Inc. raised its position in shares of ResMed by 4.5% during the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after buying an additional 56 shares in the last quarter. Inspire Advisors LLC lifted its holdings in shares of ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after acquiring an additional 56 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in ResMed by 1.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after acquiring an additional 60 shares in the last quarter. 54.98% of the stock is currently owned by 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.