ResMed (NYSE:RMD) Earns Overweight Rating from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of ResMed (NYSE:RMD - Free Report) in a research report released on Wednesday, MarketBeat reports. The firm issued an overweight rating and a $280.00 price objective on the medical equipment provider's stock.

Other equities research analysts also recently issued research reports about the company. Stifel Nicolaus cut their price objective on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. increased their price objective on ResMed from $270.00 to $286.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Piper Sandler increased their price objective on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a report on Friday, January 31st. The Goldman Sachs Group initiated coverage on ResMed in a report on Thursday, January 16th. They issued a "buy" rating for the company. Finally, Needham & Company LLC reissued a "hold" rating on shares of ResMed in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $246.83.

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ResMed Stock Down 0.6 %

Shares of RMD traded down $1.35 on Wednesday, hitting $219.77. The company's stock had a trading volume of 1,171,311 shares, compared to its average volume of 959,797. The company has a quick ratio of 2.29, a current ratio of 3.33 and a debt-to-equity ratio of 0.13. The firm's fifty day moving average price is $234.91 and its 200-day moving average price is $238.98. ResMed has a fifty-two week low of $172.19 and a fifty-two week high of $263.05. The firm has a market capitalization of $32.28 billion, a price-to-earnings ratio of 25.95, a P/E/G ratio of 1.53 and a beta of 0.74.

ResMed (NYSE:RMD - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, equities research analysts expect that ResMed will post 9.47 EPS for the current year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, February 13th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.96%. ResMed's payout ratio is presently 25.03%.

Insiders Place Their Bets

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $227.71, for a total transaction of $455,420.00. Following the transaction, the director now owns 75,218 shares in the company, valued at $17,127,890.78. This represents a 2.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Michael J. Farrell sold 8,009 shares of the stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $236.77, for a total transaction of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares in the company, valued at $107,842,105.44. This represents a 1.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,940 shares of company stock worth $9,164,385 in the last quarter. Corporate insiders own 0.71% of the company's stock.

Institutional Trading of ResMed

Large investors have recently made changes to their positions in the company. True Wealth Design LLC boosted its position in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock worth $28,000 after acquiring an additional 110 shares in the last quarter. Colonial Trust Co SC boosted its position in shares of ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new stake in shares of ResMed during the 4th quarter worth approximately $33,000. Itau Unibanco Holding S.A. boosted its position in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock worth $38,000 after acquiring an additional 150 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in ResMed in the 4th quarter valued at approximately $39,000. 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.