ResMed (NYSE:RMD) Stock Rating Upgraded by CLSA

ResMed (NYSE:RMD) was upgraded by research analysts at CLSA from a “sell” rating to an “outperform” rating in a research note issued on Wednesday, Price Targets.com reports.

A number of other analysts also recently issued reports on RMD. Needham & Company LLC raised shares of ResMed from a “hold” rating to a “buy” rating and set a $229.00 target price for the company in a research report on Tuesday, March 16th. Citigroup raised shares of ResMed from a “neutral” rating to a “buy” rating in a research note on Tuesday, May 11th. JPMorgan Chase & Co. raised shares of ResMed from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $206.00 to $219.00 in a research report on Friday, May 21st. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised ResMed from a “neutral” rating to a “buy” rating in a research report on Tuesday, May 11th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $207.43.

Shares of NYSE RMD opened at $220.53 on Wednesday. The stock has a market cap of $32.09 billion, a PE ratio of 70.46, a PEG ratio of 2.87 and a beta of 0.29. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.67 and a quick ratio of 1.12. The company’s fifty day moving average is $201.89. ResMed has a 52-week low of $157.08 and a 52-week high of $224.43.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, April 29th. The medical equipment provider reported $1.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.08. ResMed had a return on equity of 28.85% and a net margin of 14.79%. On average, sell-side analysts forecast that ResMed will post 5.26 earnings per share for the current fiscal year.

In other news, insider David Pendarvis sold 1,487 shares of the firm’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $196.15, for a total transaction of $291,675.05. Following the completion of the sale, the insider now owns 129,294 shares of the company’s stock, valued at $25,361,018.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Robert Andrew Douglas sold 1,081 shares of ResMed stock in a transaction on Monday, March 15th. The stock was sold at an average price of $185.48, for a total transaction of $200,503.88. Following the completion of the sale, the chief operating officer now owns 16,701 shares of the company’s stock, valued at approximately $3,097,701.48. The disclosure for this sale can be found here. Insiders have sold 26,719 shares of company stock valued at $5,282,179 over the last 90 days. Insiders own 1.33% of the company’s stock.

A number of hedge funds have recently made changes to their positions in RMD. BlackRock Inc. raised its stake in shares of ResMed by 1.8% in the 4th quarter. BlackRock Inc. now owns 13,521,528 shares of the medical equipment provider’s stock valued at $2,874,136,000 after purchasing an additional 240,047 shares in the last quarter. WCM Investment Management LLC increased its holdings in ResMed by 1.9% in the first quarter. WCM Investment Management LLC now owns 8,989,711 shares of the medical equipment provider’s stock valued at $1,744,184,000 after buying an additional 168,141 shares during the last quarter. FMR LLC raised its stake in ResMed by 2.6% during the fourth quarter. FMR LLC now owns 4,820,822 shares of the medical equipment provider’s stock valued at $1,024,714,000 after buying an additional 124,340 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in ResMed by 0.6% during the 1st quarter. Baillie Gifford & Co. now owns 3,100,828 shares of the medical equipment provider’s stock worth $601,623,000 after buying an additional 19,574 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of ResMed by 2.2% in the 1st quarter. Geode Capital Management LLC now owns 2,594,513 shares of the medical equipment provider’s stock worth $502,128,000 after acquiring an additional 56,193 shares in the last quarter. 67.26% of the stock is owned by institutional investors.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep apnea, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service.

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Analyst Recommendations for ResMed (NYSE:RMD)

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