ResMed (NYSE:RMD) Given “Hold” Rating at Needham & Company LLC

ResMed (NYSE:RMD)‘s stock had its “hold” rating reiterated by investment analysts at Needham & Company LLC in a note issued to investors on Friday,Benzinga reports.

RMD has been the topic of several other reports. The Goldman Sachs Group initiated coverage on shares of ResMed in a research report on Thursday, January 16th. They set a “buy” rating on the stock. Royal Bank of Canada raised their price objective on ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a research note on Friday, October 25th. KeyCorp boosted their target price on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Piper Sandler initiated coverage on ResMed in a research report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price target for the company. Finally, Stifel Nicolaus began coverage on shares of ResMed in a research report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $238.40.

ResMed Stock Up 1.9 %

RMD opened at $257.63 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. ResMed has a 12 month low of $170.56 and a 12 month high of $263.05. The stock has a market capitalization of $37.82 billion, a P/E ratio of 34.12, a P/E/G ratio of 1.83 and a beta of 0.70. The business has a 50 day simple moving average of $240.04 and a 200-day simple moving average of $235.84.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. On average, equities analysts anticipate that ResMed will post 9.35 earnings per share for the current fiscal year.

Insider Buying and Selling at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total transaction of $497,480.00. Following the completion of the transaction, the director now owns 83,204 shares of the company’s stock, valued at $20,696,162.96. This represents a 2.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now directly owns 6,723 shares in the company, valued at $1,672,749.63. This 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 sold 11,030 shares of company stock worth $2,702,687. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

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