ResMed (NYSE:RMD) Receives Hold Rating from Needham & Company LLC

ResMed (NYSE:RMD)‘s stock had its “hold” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Wednesday, Benzinga reports.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada raised their price objective on ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research note on Friday, August 2nd. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a research report on Monday, June 24th. Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. KeyCorp lifted their target price on ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, StockNews.com lowered ResMed from a “buy” rating to a “hold” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, ResMed currently has a consensus rating of “Hold” and a consensus target price of $202.45.

ResMed Price Performance

Shares of NYSE RMD opened at $250.88 on Wednesday. ResMed has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The business has a 50 day moving average price of $224.34 and a two-hundred day moving average price of $208.32. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The firm has a market cap of $36.86 billion, a PE ratio of 38.54, a price-to-earnings-growth ratio of 2.49 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the firm earned $1.60 EPS. ResMed’s quarterly revenue was up 6.9% on a year-over-year basis. Sell-side analysts expect that ResMed will post 8.92 earnings per share for the current fiscal year.

Insider Buying and Selling at ResMed

In other ResMed news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction on Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ResMed news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction on Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock valued at $22,644,807 in the last quarter. Corporate insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

Hedge funds have recently modified their holdings of the company. BOK Financial Private Wealth Inc. acquired a new position in shares of ResMed during the 1st quarter valued at $35,000. OFI Invest Asset Management acquired a new position in shares of ResMed during the 2nd quarter valued at $32,000. Versant Capital Management Inc increased its position in shares of ResMed by 196.7% during the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 120 shares during the period. Financial Connections Group Inc. acquired a new position in shares of ResMed during the 2nd quarter valued at $37,000. Finally, Riverview Trust Co acquired a new position in shares of ResMed during the 1st quarter valued at $42,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.