ResMed Inc. (NYSE:RMD) was upgraded by equities researchers at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Saturday.
A number of other equities analysts have also commented on RMD. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $81.00 price objective on the stock in a research note on Tuesday, February 21st. BMO Capital Markets reaffirmed a “hold” rating on shares of ResMed in a research note on Friday, May 12th. Citigroup Inc. lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, April 28th. J P Morgan Chase & Co lowered ResMed from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $72.00 to $71.00 in a research note on Thursday, April 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of ResMed in a research note on Thursday, April 13th. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $63.75.
ResMed (NYSE RMD) traded up 1.22% on Friday, reaching $77.10. 1,319,308 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $70.62 and its 200 day moving average is $68.33. ResMed has a 52 week low of $56.59 and a 52 week high of $77.45. The company has a market cap of $10.93 billion, a price-to-earnings ratio of 33.82 and a beta of 0.83.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.01. The company had revenue of $514.20 million for the quarter, compared to analysts’ expectations of $525.84 million. ResMed had a return on equity of 22.53% and a net margin of 15.96%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.68 earnings per share. On average, equities analysts anticipate that ResMed will post $2.80 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, May 11th were paid a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend was Tuesday, May 9th. ResMed’s dividend payout ratio (DPR) is presently 57.64%.
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In other ResMed news, insider David Pendarvis sold 6,365 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $71.59, for a total value of $455,670.35. Following the transaction, the insider now directly owns 84,261 shares of the company’s stock, valued at $6,032,244.99. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brett Sandercock sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $71.65, for a total value of $89,562.50. Following the completion of the transaction, the chief financial officer now directly owns 64,033 shares in the company, valued at $4,587,964.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,374 shares of company stock worth $8,207,803. Insiders own 1.97% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank raised its position in shares of ResMed by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock valued at $111,000 after buying an additional 324 shares during the period. Van ECK Associates Corp raised its position in shares of ResMed by 7.5% in the first quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after buying an additional 136 shares during the period. Morgan Dempsey Capital Management LLC raised its position in shares of ResMed by 2.3% in the first quarter. Morgan Dempsey Capital Management LLC now owns 2,189 shares of the medical equipment provider’s stock valued at $158,000 after buying an additional 50 shares during the period. Pittenger & Anderson Inc. raised its position in shares of ResMed by 385.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 2,985 shares of the medical equipment provider’s stock valued at $185,000 after buying an additional 2,370 shares during the period. Finally, Pacer Advisors Inc. raised its position in shares of ResMed by 3.0% in the first quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock valued at $194,000 after buying an additional 79 shares during the period. 60.75% of the stock is currently owned by hedge funds and other institutional investors.
ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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