Stifel Nicolaus Begins Coverage on ResMed (NYSE:RMD)

Investment analysts at Stifel Nicolaus started coverage on shares of ResMed (NYSE:RMD) in a research note issued to investors on Friday,Benzinga reports. The firm set a “hold” rating and a $250.00 price target on the medical equipment provider’s stock. Stifel Nicolaus’ price target suggests a potential upside of 3.09% from the stock’s previous close.

Other analysts have also issued research reports about the company. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Baird R W raised ResMed to a “strong-buy” rating in a research note on Tuesday, September 24th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th. Bank of America boosted their price target on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Wolfe Research reissued an “underperform” rating and issued a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $227.91.

ResMed Stock Performance

NYSE RMD opened at $242.51 on Friday. The stock has a market cap of $35.60 billion, a PE ratio of 32.12, a P/E/G ratio of 1.78 and a beta of 0.68. ResMed has a twelve month low of $164.12 and a twelve month high of $260.49. The stock has a fifty day simple moving average of $242.57 and a 200-day simple moving average of $227.16. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. ResMed’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.64 earnings per share. Equities analysts anticipate that ResMed will post 9.34 earnings per share for the current year.

Insider Activity at ResMed

In other news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total transaction of $198,052.76. Following the completion of the sale, the director now owns 6,723 shares in the company, valued at approximately $1,672,749.63. The trade was a 10.59 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction on Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the completion of the transaction, the chief executive officer now directly owns 464,169 shares in the company, valued at $107,645,432.79. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,725 shares of company stock valued at $11,253,448 over the last quarter. 0.71% of the stock is owned by insiders.

Institutional Trading of ResMed

A number of large investors have recently made changes to their positions in the company. American Trust purchased a new stake in ResMed in the third quarter valued at approximately $690,000. Franklin Resources Inc. grew its position in shares of ResMed by 56.5% during the third quarter. Franklin Resources Inc. now owns 174,113 shares of the medical equipment provider’s stock worth $41,909,000 after acquiring an additional 62,882 shares during the last quarter. Tidal Investments LLC increased its holdings in shares of ResMed by 738.4% in the 3rd quarter. Tidal Investments LLC now owns 104,938 shares of the medical equipment provider’s stock valued at $25,617,000 after acquiring an additional 92,422 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in ResMed in the 3rd quarter valued at $193,000. Finally, World Investment Advisors LLC acquired a new stake in ResMed during the 3rd quarter worth $541,000. 54.98% of the stock is 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.