ResMed (NYSE:RMD) Earns Buy Rating from Analysts at The Goldman Sachs Group

Investment analysts at The Goldman Sachs Group started coverage on shares of ResMed (NYSE:RMD) in a note issued to investors on Thursday, Marketbeat.com reports. The firm set a “buy” rating on the medical equipment provider’s stock.

A number of other equities research analysts have also recently commented on RMD. Robert W. Baird raised their price target on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Piper Sandler started coverage on ResMed in a research note on Friday, January 10th. They set a “neutral” rating and a $252.00 target price on the stock. Stifel Nicolaus assumed coverage on ResMed in a research note on Friday, December 13th. They issued a “hold” rating and a $250.00 price target for the company. Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, ResMed has an average rating of “Hold” and a consensus target price of $233.09.

ResMed Trading Up 1.2 %

ResMed stock opened at $239.89 on Thursday. ResMed has a 12-month low of $170.39 and a 12-month high of $260.49. The firm has a market capitalization of $35.22 billion, a price-to-earnings ratio of 31.77, a P/E/G ratio of 1.69 and a beta of 0.70. The firm has a 50 day moving average of $238.51 and a 200 day moving average of $232.47. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

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, topping analysts’ consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the company posted $1.64 earnings per share. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, research analysts predict that ResMed will post 9.36 earnings per share for the current year.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the sale, the director now directly owns 83,204 shares in the company, valued at $20,696,162.96. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Justin Leong sold 6,160 shares of ResMed stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the completion of the transaction, the insider now owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,099 shares of company stock worth $2,719,385. 0.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. UMB Bank n.a. boosted its stake in shares of ResMed by 1.9% during the 3rd 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 period. Ascent Group LLC lifted its stake in ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares during the last quarter. SkyView Investment Advisors LLC lifted its stake in ResMed by 2.0% in the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock worth $637,000 after purchasing an additional 51 shares during the last quarter. Wedmont Private Capital boosted its position in shares of ResMed by 2.6% during the fourth quarter. Wedmont Private Capital now owns 2,032 shares of the medical equipment provider’s stock valued at $475,000 after buying an additional 52 shares during the period. Finally, Concurrent Investment Advisors LLC grew its stake in shares of ResMed by 3.1% during the third quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock valued at $469,000 after buying an additional 57 shares during the last quarter. 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.