ResMed (NYSE:RMD) Now Covered by Analysts at Stifel Nicolaus

Analysts at Stifel Nicolaus assumed coverage on shares of ResMed (NYSE:RMD) in a note issued to investors on Friday,Benzinga reports. The brokerage set a “hold” rating and a $250.00 price target on the medical equipment provider’s stock. Stifel Nicolaus’ target price indicates a potential upside of 3.09% from the company’s previous close.

RMD has been the topic of a number of other research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. Wolfe Research restated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. KeyCorp upped their price objective on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Bank of America raised their target price on ResMed from $240.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $227.91.

ResMed Trading Down 1.3 %

Shares of RMD stock opened at $242.51 on Friday. ResMed has a twelve month low of $164.12 and a twelve month high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The business’s 50 day moving average is $242.57 and its two-hundred day moving average is $227.16. The company has a market capitalization of $35.60 billion, a P/E ratio of 32.12, a price-to-earnings-growth ratio of 1.78 and a beta of 0.68.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the previous year, the company posted $1.64 EPS. ResMed’s revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that ResMed will post 9.34 EPS for the current year.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Monday, October 7th. The shares were sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the sale, the chief executive officer now owns 464,169 shares in the company, valued at $107,645,432.79. This represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 47,725 shares of company stock worth $11,253,448. 0.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ResMed

A number of institutional investors have recently modified their holdings of the company. True Wealth Design LLC increased its stake 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 valued at $28,000 after purchasing an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in ResMed in the 3rd quarter valued at about $34,000. OFI Invest Asset Management acquired a new position in shares of ResMed during the 2nd quarter valued at about $32,000. Financial Connections Group Inc. purchased a new position in shares of ResMed during the 2nd quarter worth about $37,000. Finally, Blue Trust Inc. boosted its position in shares of ResMed by 182.7% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after acquiring an additional 137 shares during the last quarter. Institutional investors and hedge funds 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.