ResMed (NYSE:RMD) Stock Rating Lowered by StockNews.com

ResMed (NYSE:RMD) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

RMD has been the topic of several other reports. Stifel Nicolaus lowered their target price on ResMed from $250.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. JPMorgan Chase & Co. lifted their price objective on ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, January 31st. Finally, UBS Group upgraded ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and an average price target of $249.73.

ResMed Price Performance

NYSE RMD opened at $213.11 on Wednesday. The company has a 50-day moving average price of $231.65 and a 200-day moving average price of $237.37. ResMed has a 52 week low of $172.19 and a 52 week high of $263.05. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $31.30 billion, a P/E ratio of 25.16, a PEG ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts anticipate that ResMed will post 9.47 earnings per share for the current year.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction on Friday, March 7th. The shares were sold at an average price of $229.20, for a total value of $1,835,662.80. Following the completion of the transaction, the chief executive officer now directly owns 455,472 shares of the company’s stock, valued at $104,394,182.40. This trade represents a 1.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kaushik Ghoshal sold 9,745 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 39,004 shares of company stock valued at $9,178,648 in the last quarter. 0.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Colonial Trust Co SC lifted its stake in shares of ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 125 shares during the last quarter. Optiver Holding B.V. purchased a new stake in ResMed during the 4th quarter valued at $33,000. Itau Unibanco Holding S.A. raised its holdings in ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 150 shares during the period. OFI Invest Asset Management purchased a new position in ResMed during the fourth quarter worth $39,000. Finally, Coppell Advisory Solutions LLC increased its position in ResMed by 1,750.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 185 shares of the medical equipment provider’s stock valued at $42,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors 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.