ResMed (NYSE:RMD) Downgraded to Hold Rating by StockNews.com

ResMed (NYSE:RMD - Get Free Report) was downgraded by stock analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Friday.

Several other brokerages have also issued reports on RMD. Piper Sandler boosted their target price on ResMed from $252.00 to $260.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. UBS Group raised shares of ResMed from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Stifel Nicolaus reduced their price objective on shares of ResMed from $250.00 to $240.00 and set a "hold" rating for the company in a research note on Wednesday, March 5th. The Goldman Sachs Group assumed coverage on ResMed in a report on Thursday, January 16th. They set a "buy" rating for the company. Finally, Citigroup upgraded ResMed from a "neutral" rating to a "buy" rating in a report on Wednesday, March 5th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $243.82.

ResMed Trading Up 4.2 %

Shares of NYSE RMD traded up $9.73 during trading hours on Friday, hitting $242.17. 728,994 shares of the company traded hands, compared to its average volume of 968,894. The company's 50 day moving average price is $236.70 and its 200 day moving average price is $240.04. ResMed has a 12 month low of $172.19 and a 12 month high of $263.05. The stock has a market capitalization of $35.57 billion, a price-to-earnings ratio of 28.56, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company has a current ratio of 3.33, a quick ratio of 2.29 and a debt-to-equity ratio of 0.13.

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

Insiders Place Their Bets

In other news, Director Peter C. Farrell sold 2,000 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 9,113 shares of ResMed stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $235.40, for a total value of $2,145,200.20. Following the completion of the sale, the insider now owns 9,725 shares in the company, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,186 shares of company stock valued at $4,996,646. 0.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in RMD. True Wealth Design LLC lifted its stake in ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Colonial Trust Co SC boosted its holdings in ResMed by 6,250.0% during the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 125 shares during the period. Ashton Thomas Securities LLC acquired a new position in ResMed in the 3rd quarter valued at about $34,000. Optiver Holding B.V. purchased a new stake in ResMed during the fourth quarter worth about $33,000. Finally, Itau Unibanco Holding S.A. boosted its stake in shares of ResMed by 1,000.0% in the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider's stock valued at $38,000 after purchasing an additional 150 shares during the period. 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. 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.