ResMed (NYSE:RMD) Earns Buy (B-) Rating from Weiss Ratings

ResMed (NYSE:RMD - Get Free Report)'s stock had its "buy (b-)" rating reissued by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other analysts have also issued research reports about the company. Mizuho upped their price objective on ResMed from $270.00 to $290.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. CLSA raised ResMed from a "hold" rating to an "outperform" rating in a research report on Tuesday, September 2nd. Piper Sandler upped their price objective on ResMed from $248.00 to $270.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. KeyCorp upped their price objective on ResMed from $274.00 to $298.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Stifel Nicolaus upped their price objective on ResMed from $240.00 to $270.00 and gave the stock a "hold" rating in a research report on Friday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, ResMed has a consensus rating of "Moderate Buy" and an average price target of $294.20.

ResMed Stock Down 0.3%

ResMed stock opened at $282.49 on Wednesday. ResMed has a fifty-two week low of $199.92 and a fifty-two week high of $293.81. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. The firm has a 50 day moving average price of $278.54 and a 200 day moving average price of $254.73. The company has a market capitalization of $41.23 billion, a PE ratio of 29.70, a price-to-earnings-growth ratio of 1.90 and a beta of 0.83.

ResMed (NYSE:RMD - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical equipment provider reported $2.55 earnings per share for the quarter, beating the consensus estimate of $2.47 by $0.08. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter last year, the firm earned $2.08 EPS. The firm's revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts expect that ResMed will post 9.47 earnings per share for the current year.

Insider Activity at ResMed

In other ResMed news, Director John Hernandez sold 2,575 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $287.10, for a total transaction of $739,282.50. Following the transaction, the director owned 4,045 shares of the company's stock, valued at approximately $1,161,319.50. This trade represents a 38.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. Rider sold 100 shares of the firm's stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $274.36, for a total value of $27,436.00. Following the transaction, the general counsel directly owned 11,327 shares in the company, valued at approximately $3,107,675.72. The trade was a 0.88% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,734 shares of company stock valued at $3,019,169 over the last quarter. 0.71% of the stock is owned by insiders.

Hedge Funds Weigh In On ResMed

Hedge funds have recently made changes to their positions in the company. WFA of San Diego LLC purchased a new position in shares of ResMed during the second quarter worth about $26,000. Global X Japan Co. Ltd. grew its holdings in shares of ResMed by 121.4% during the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider's stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in shares of ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 127 shares during the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of ResMed during the first quarter worth about $45,000. Finally, Groupe la Francaise purchased a new position in shares of ResMed during the first quarter worth about $45,000. Hedge funds and other institutional investors own 54.98% of the company's stock.

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.

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