ResMed (NYSE:RMD) Stock Rating Upgraded by StockNews.com

ResMed (NYSE:RMD - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Tuesday.

A number of other research analysts have also weighed in on RMD. The Goldman Sachs Group started coverage on shares of ResMed in a research report on Thursday, January 16th. They set a "buy" rating on the stock. KeyCorp lifted their target price on shares of ResMed from $266.00 to $280.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Stifel Nicolaus reduced their target price on ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, March 5th. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. Finally, Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a research note on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, ResMed currently has an average rating of "Moderate Buy" and an average price target of $246.83.

ResMed Stock Up 0.3 %

RMD stock traded up $0.74 during mid-day trading on Tuesday, reaching $222.62. 484,081 shares of the company traded hands, compared to its average volume of 952,497. 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 50 day moving average price is $234.10 and its 200 day moving average price is $238.43. The stock has a market cap of $32.69 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 1.53 and a beta of 0.74. ResMed has a fifty-two week low of $172.19 and a fifty-two week high of $263.05.

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ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts predict that ResMed will post 9.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Kaushik Ghoshal sold 9,745 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $239.31, for a total transaction of $2,332,075.95. Following the completion of the transaction, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. The trade was a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the firm's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the sale, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. The trade was a 2.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,940 shares of company stock worth $9,164,385 in the last three months. 0.71% of the stock is currently owned by corporate insiders.

Institutional Trading of ResMed

A number of hedge funds have recently made changes to their positions in the stock. Invesco Ltd. raised its position in ResMed by 32.2% during the fourth quarter. Invesco Ltd. now owns 2,325,009 shares of the medical equipment provider's stock valued at $531,706,000 after purchasing an additional 566,046 shares in the last quarter. Norges Bank bought a new stake in ResMed in the fourth quarter worth $118,605,000. Captrust Financial Advisors grew its stake in shares of ResMed by 813.4% during the fourth quarter. Captrust Financial Advisors now owns 443,340 shares of the medical equipment provider's stock valued at $101,387,000 after buying an additional 394,803 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of ResMed by 10.9% in the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock worth $939,114,000 after buying an additional 380,383 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in ResMed by 133.6% during the 4th quarter. AQR Capital Management LLC now owns 625,054 shares of the medical equipment provider's stock valued at $142,944,000 after acquiring an additional 357,466 shares during the period. 54.98% of the stock is 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.