ResMed (NYSE:RMD) Given “Buy” Rating at Needham & Company LLC

ResMed (NYSE:RMD)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $236.00 target price on the medical equipment provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 9.99% from the company’s current price.

Other analysts have also issued reports about the company. Citigroup lowered ResMed from a “buy” rating to a “neutral” rating in a report on Monday, June 24th. Royal Bank of Canada raised their price objective on ResMed from $200.00 to $204.00 and gave the company a “sector perform” rating in a report on Tuesday, July 23rd. KeyCorp lifted their price target on ResMed from $227.00 to $238.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Oppenheimer lowered ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.20.

ResMed Trading Up 0.6 %

Shares of NYSE:RMD opened at $214.56 on Friday. ResMed has a 52-week low of $132.24 and a 52-week high of $225.49. The stock has a market cap of $31.52 billion, a price-to-earnings ratio of 32.96, a PEG ratio of 1.84 and a beta of 0.66. The company has a quick ratio of 1.97, a current ratio of 3.04 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $203.68 and a 200-day moving average price of $195.94.

Insider Buying and Selling

In related news, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total transaction of $3,178,869.50. Following the transaction, the chief executive officer now owns 440,752 shares in the company, valued at $95,422,808. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other ResMed news, Director Witte Jan De sold 360 shares of ResMed stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now owns 7,519 shares in the company, valued at $1,641,322.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of ResMed stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the sale, the chief executive officer now owns 440,752 shares in the company, valued at approximately $95,422,808. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,409 shares of company stock worth $9,602,796. 1.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ResMed

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its stake in shares of ResMed by 22.5% in the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock valued at $12,088,000 after buying an additional 12,899 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in ResMed by 13.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,231 shares of the medical equipment provider’s stock worth $7,781,000 after purchasing an additional 5,517 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in ResMed by 24.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after purchasing an additional 35,273 shares in the last quarter. Vaughan David Investments LLC IL acquired a new position in ResMed during the 4th quarter worth $29,322,000. Finally, Dimensional Fund Advisors LP grew its stake in ResMed by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 536,459 shares of the medical equipment provider’s stock worth $92,285,000 after purchasing an additional 40,605 shares in the last quarter. 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. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.