ResMed (NYSE:RMD) Hits New 52-Week High – Here’s What Happened

ResMed Inc. (NYSE:RMD) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $263.05 and last traded at $260.50, with a volume of 119975 shares changing hands. The stock had previously closed at $252.86.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RMD shares. KeyCorp lifted their price objective on shares of ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Stifel Nicolaus began coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 target price on the stock. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, The Goldman Sachs Group began coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $238.40.

ResMed Price Performance

The stock has a market capitalization of $37.95 billion, a P/E ratio of 34.24, a PEG ratio of 1.78 and a beta of 0.70. The business has a fifty day simple moving average of $240.04 and a 200-day simple moving average of $235.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at approximately $19,951,201.70. This trade represents a 2.40 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the transaction, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. 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. Corporate insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ResMed

Large investors have recently bought and sold shares of the stock. True Wealth Design LLC boosted its stake in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of ResMed during the 3rd quarter valued at about $34,000. Rosenberg Matthew Hamilton bought a new stake in shares of ResMed during the 4th quarter valued at about $54,000. Capital Performance Advisors LLP bought a new stake in shares of ResMed during the 3rd quarter valued at about $60,000. Finally, Quarry LP boosted its position in shares of ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 242 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

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.