ResMed (NYSE:RMD) Trading Up 3.6%

ResMed Inc. (NYSE:RMD) was up 3.6% during trading on Monday . The company traded as high as $205.20 and last traded at $204.10. Approximately 213,305 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 1,046,343 shares. The stock had previously closed at $197.04.

Analyst Upgrades and Downgrades

A number of research analysts have commented on RMD shares. KeyCorp upped their target price on shares of ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Needham & Company LLC reissued a “buy” rating and issued a $236.00 price objective on shares of ResMed in a research note on Monday, June 24th. Royal Bank of Canada raised their price objective on shares of ResMed from $200.00 to $204.00 and gave the company a “sector perform” rating in a research note on Tuesday, July 23rd. Oppenheimer lowered shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Finally, Citigroup lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $203.20.

ResMed Stock Up 5.8 %

The business’s 50 day moving average is $204.14 and its 200-day moving average is $195.23. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The company has a market cap of $30.64 billion, a PE ratio of 31.64, a P/E/G ratio of 1.70 and a beta of 0.66.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter last year, the company earned $1.68 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts predict that ResMed Inc. will post 7.7 EPS for the current year.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the sale, the chief executive officer now owns 440,752 shares of the company’s stock, valued at $95,422,808. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $218.29, for a total value of $78,584.40. Following the transaction, the director now directly owns 7,519 shares of the company’s stock, valued at approximately $1,641,322.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the completion of the transaction, the chief executive officer now directly owns 440,752 shares in the company, valued at $95,422,808. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,409 shares of company stock valued at $9,602,796. 1.21% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ResMed

Institutional investors have recently modified their holdings of the business. Atlantic Edge Private Wealth Management LLC acquired a new position in ResMed in the 4th quarter valued at $27,000. Hall Laurie J Trustee acquired a new position in ResMed in the 1st quarter valued at $32,000. BOK Financial Private Wealth Inc. acquired a new position in ResMed in the 1st quarter valued at $35,000. OFI Invest Asset Management acquired a new position in ResMed in the 2nd quarter valued at $32,000. Finally, Versant Capital Management Inc increased its stake in ResMed by 196.7% in the 2nd quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 120 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.

About ResMed

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.