The Goldman Sachs Group Begins Coverage on ResMed (NYSE:RMD)

Equities researchers at The Goldman Sachs Group started coverage on shares of ResMed (NYSE:RMD - Get Free Report) in a note issued to investors on Thursday, MarketBeat Ratings reports. The firm set a "buy" rating on the medical equipment provider's stock.

A number of other analysts have also recently weighed in on RMD. KeyCorp boosted their price target on ResMed from $251.00 to $266.00 and gave the stock an "overweight" rating in a research report on Friday, October 25th. Robert W. Baird boosted their price target on ResMed from $280.00 to $283.00 and gave the stock an "outperform" rating in a research report on Friday, October 25th. Wolfe Research reaffirmed an "underperform" rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Piper Sandler assumed 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, Needham & Company LLC reaffirmed a "hold" rating on shares of ResMed in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $233.09.

ResMed Stock Up 1.6 %

RMD traded up $3.81 during trading on Thursday, reaching $237.19. 797,006 shares of the stock traded hands, compared to its average volume of 779,417. The stock has a market cap of $34.82 billion, a price-to-earnings ratio of 31.42, a price-to-earnings-growth ratio of 1.69 and a beta of 0.70. ResMed has a fifty-two week low of $168.29 and a fifty-two week high of $260.49. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock's 50-day simple moving average is $238.99 and its two-hundred day simple moving average is $232.06.

ResMed (NYSE:RMD - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business's revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 earnings per share. As a group, equities research analysts expect that ResMed will post 9.36 EPS for the current year.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $248.74, for a total transaction of $497,480.00. Following the transaction, the director now directly owns 83,204 shares in the company, valued at $20,696,162.96. The trade was a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Witte Jan De sold 796 shares of the business's stock in a transaction dated 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 $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. Insiders have sold 11,099 shares of company stock worth $2,719,385 over the last three months. Company insiders own 0.71% of the company's stock.

Institutional Investors Weigh In On ResMed

Several large investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB grew its stake in shares of ResMed by 1.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 66,597 shares of the medical equipment provider's stock valued at $15,230,000 after purchasing an additional 1,027 shares during the period. LVW Advisors LLC grew its stake in shares of ResMed by 23.4% in the 4th quarter. LVW Advisors LLC now owns 3,098 shares of the medical equipment provider's stock valued at $708,000 after purchasing an additional 587 shares during the period. Aaron Wealth Advisors LLC grew its stake in shares of ResMed by 25.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 1,607 shares of the medical equipment provider's stock valued at $368,000 after purchasing an additional 323 shares during the period. Integrated Investment Consultants LLC bought a new stake in shares of ResMed in the 4th quarter valued at approximately $1,378,000. Finally, Brooklyn Investment Group grew its stake in shares of ResMed by 8.1% in the 4th quarter. Brooklyn Investment Group now owns 911 shares of the medical equipment provider's stock valued at $208,000 after purchasing an additional 68 shares during the period. 54.98% of the stock is currently owned by institutional investors.

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.