ResMed (NYSE:RMD) Now Covered by Robert W. Baird

Stock analysts at Robert W. Baird started coverage on shares of ResMed (NYSE:RMD) in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $280.00 price target on the medical equipment provider’s stock. Robert W. Baird’s price target indicates a potential upside of 16.30% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. KeyCorp boosted their price objective on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research report on Wednesday, September 18th. Wolfe Research reiterated an “underperform” rating and set a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Royal Bank of Canada upped their target price on shares of ResMed from $204.00 to $206.00 and gave the company a “sector perform” rating in a research report on Friday, August 2nd. Finally, Oppenheimer cut shares of ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $207.00.

ResMed Stock Down 2.6 %

Shares of RMD opened at $240.75 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. The business’s 50 day simple moving average is $228.54 and its 200-day simple moving average is $210.41. ResMed has a one year low of $132.24 and a one year high of $255.18. The company has a market capitalization of $35.37 billion, a P/E ratio of 36.98, a PEG ratio of 2.45 and a beta of 0.69.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the previous year, the company posted $1.60 EPS. ResMed’s revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that ResMed will post 8.92 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares of the company’s stock, valued at approximately $85,060,983.03. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Justin Leong sold 48,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the transaction, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the transaction, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,931 shares of company stock valued at $22,644,807. Company insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of large investors have recently modified their holdings of the business. BOK Financial Private Wealth Inc. acquired a new stake in ResMed in the 1st quarter valued at about $35,000. OFI Invest Asset Management acquired a new stake in ResMed in the 2nd quarter valued at about $32,000. Versant Capital Management Inc lifted 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 purchasing an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in ResMed in the 2nd quarter valued at about $37,000. Finally, Riverview Trust Co acquired a new stake in ResMed in the 1st quarter valued at about $42,000. 54.98% of the stock is currently owned by institutional investors and hedge funds.

ResMed Company Profile

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.