ResMed (NYSE:RMD) Upgraded at StockNews.com

StockNews.com upgraded shares of ResMed (NYSE:RMD - Free Report) from a hold rating to a buy rating in a research report report published on Saturday morning.

RMD has been the subject of a number of other reports. UBS Group upgraded ResMed from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. The Goldman Sachs Group began coverage on ResMed in a report on Thursday, January 16th. They set a "buy" rating for the company. JPMorgan Chase & Co. upped their price target on ResMed from $270.00 to $286.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Piper Sandler upped their price target on ResMed from $252.00 to $260.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Finally, Needham & Company LLC reiterated 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 given a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $243.82.

ResMed Stock Performance

RMD traded down $4.67 on Friday, hitting $220.07. The company had a trading volume of 710,288 shares, compared to its average volume of 963,267. The company's fifty day moving average price is $236.09 and its 200 day moving average price is $239.66. ResMed has a 1-year low of $172.19 and a 1-year high of $263.05. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.33 and a quick ratio of 2.29. The stock has a market cap of $32.32 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74.

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ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share 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%. Equities analysts predict that ResMed will post 9.47 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, February 13th. ResMed's dividend payout ratio (DPR) is 25.03%.

Insider Buying and Selling at ResMed

In other ResMed news, insider Kaushik Ghoshal sold 9,113 shares of the business's stock in a transaction on 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 transaction, the insider now owns 9,725 shares of the company's stock, valued at approximately $2,289,265. The trade was a 48.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the completion of the transaction, the director now directly owns 77,218 shares in the company, valued at approximately $18,695,249.98. This represents 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 over the last three months. Company insiders own 0.71% of the company's stock.

Hedge Funds Weigh In On ResMed

Institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. lifted its stake in shares of 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 acquiring an additional 566,046 shares during the period. Norges Bank acquired a new position in shares of ResMed during the fourth quarter valued at $118,605,000. Captrust Financial Advisors lifted 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 acquiring an additional 394,803 shares during the period. Geode Capital Management LLC lifted its stake in shares of ResMed by 10.9% during the third quarter. Geode Capital Management LLC now owns 3,858,814 shares of the medical equipment provider's stock valued at $939,114,000 after acquiring an additional 380,383 shares during the period. Finally, AQR Capital Management LLC lifted its stake in shares of ResMed by 133.6% during the fourth 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. 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.