ResMed (NYSE:RMD) Shares Down 3.1%

ResMed Inc. (NYSE:RMD)’s stock price was down 3.1% on Friday . The company traded as low as $201.29 and last traded at $201.84. Approximately 70,893 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 1,039,720 shares. The stock had previously closed at $208.34.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on RMD. Needham & Company LLC reaffirmed a “buy” rating and set a $236.00 price target on shares of ResMed in a research note on Monday, June 24th. Oppenheimer downgraded ResMed from an “outperform” rating to a “market perform” rating in a research report on Tuesday, June 25th. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research note on Monday, June 24th. Royal Bank of Canada upped their price objective on ResMed from $200.00 to $204.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Finally, KeyCorp upped their price objective on ResMed from $227.00 to $238.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.20.

ResMed Stock Down 5.3 %

The company’s 50-day simple moving average is $204.57 and its two-hundred day simple moving average is $194.82. The firm has a market capitalization of $28.98 billion, a P/E ratio of 32.01, a P/E/G ratio of 1.78 and a beta of 0.66. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.91 by $0.22. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.17 billion. ResMed had a net margin of 20.91% and a return on equity of 24.43%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.68 EPS. As a group, research analysts expect that ResMed Inc. will post 7.7 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $209.81, for a total value of $209,810.00. Following the completion of the sale, the chief financial officer now directly owns 91,056 shares in the company, valued at $19,104,459.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total transaction of $2,833,378.51. Following the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction on Monday, June 10th. The shares were sold at an average price of $209.81, for a total transaction of $209,810.00. Following the completion of the transaction, the chief financial officer now owns 91,056 shares in the company, valued at $19,104,459.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,834 shares of company stock valued at $9,694,137. Corporate insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

Several institutional investors and hedge funds have recently made changes to their positions in the business. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth approximately $27,000. Hall Laurie J Trustee bought a new stake in shares of ResMed during the first quarter valued at about $32,000. OFI Invest Asset Management acquired a new position in ResMed during the second quarter worth about $32,000. Planned Solutions Inc. purchased a new position in ResMed in the 4th quarter worth about $34,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in ResMed in the 1st quarter worth about $35,000. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

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.