ResMed (NYSE:RMD) Now Covered by Analysts at Morgan Stanley

Morgan Stanley started coverage on shares of ResMed (NYSE:RMD) in a research report report published on Wednesday, MarketBeat Ratings reports. The firm issued an overweight rating and a $280.00 price target on the medical equipment provider’s stock.

Several other brokerages have also weighed in on RMD. UBS Group raised shares of ResMed from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Piper Sandler increased their price objective on shares of ResMed from $252.00 to $260.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Citigroup raised ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, March 5th. JPMorgan Chase & Co. raised their price target on ResMed from $270.00 to $286.00 and gave the stock an “overweight” rating in a research 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, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $246.83.

ResMed Stock Up 0.8 %

RMD stock opened at $222.07 on Wednesday. ResMed has a one year low of $172.19 and a one year high of $263.05. The firm has a market cap of $32.61 billion, a PE ratio of 26.22, a PEG ratio of 1.53 and a beta of 0.74. The firm’s 50 day moving average price is $235.48 and its 200-day moving average price is $239.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 26.17% and a net margin of 25.34%. On average, equities research analysts anticipate that ResMed will post 9.47 EPS for the current year.

ResMed Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Thursday, February 13th. This represents a $2.12 annualized dividend and a yield of 0.95%. ResMed’s dividend payout ratio (DPR) is 25.03%.

Insider Buying and Selling

In other ResMed news, insider Kaushik Ghoshal sold 9,745 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $239.31, for a total value of $2,332,075.95. Following the sale, the insider now directly owns 9,725 shares in the company, valued at $2,327,289.75. This trade represents a 50.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total value of $484,220.00. Following the sale, the director now directly owns 77,218 shares of the company’s stock, valued at $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,940 shares of company stock worth $9,164,385 over the last 90 days. 0.71% of the stock is owned by insiders.

Institutional Investors Weigh In On ResMed

Several hedge funds and other institutional investors have recently made changes to their positions in the business. True Wealth Design LLC increased its stake in ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the last quarter. Colonial Trust Co SC boosted its holdings in shares of ResMed by 6,250.0% in the 4th quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new position in shares of ResMed in the 4th quarter valued at $33,000. Itau Unibanco Holding S.A. grew its position in shares of ResMed by 1,000.0% in the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 150 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in ResMed during the 4th quarter worth $39,000. Institutional investors and hedge funds 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.