Other analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of ResMed from an overweight rating to a neutral rating and dropped their price target for the company from $72.00 to $71.00 in a research report on Thursday, April 20th. Jefferies Group LLC restated a sell rating and set a $56.00 price target on shares of ResMed in a research report on Friday, April 28th. William Blair restated an outperform rating on shares of ResMed in a research report on Thursday, April 13th. Zacks Investment Research upgraded shares of ResMed from a sell rating to a hold rating in a research report on Wednesday, January 25th. Finally, Canaccord Genuity restated a hold rating and set a $59.00 price target on shares of ResMed in a research report on Monday, February 6th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. ResMed presently has a consensus rating of Hold and an average price target of $63.75.
ResMed (NYSE:RMD) opened at 67.66 on Friday. The stock has a market cap of $9.60 billion, a PE ratio of 29.68 and a beta of 0.82. The company’s 50 day moving average is $69.50 and its 200-day moving average is $66.33. ResMed has a 1-year low of $56.28 and a 1-year high of $73.46.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. The company had revenue of $514.20 million for the quarter, compared to analyst estimates of $525.84 million. ResMed had a net margin of 16.48% and a return on equity of 22.82%. The firm’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business earned $0.68 earnings per share. Equities research analysts forecast that ResMed will post $2.80 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, May 11th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.95%. The ex-dividend date is Tuesday, May 9th. ResMed’s payout ratio is 57.39%.
In other ResMed news, insider David Pendarvis sold 6,365 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $71.59, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Christopher G. Roberts sold 10,000 shares of the stock in a transaction on Monday, February 20th. The shares were sold at an average price of $71.91, for a total transaction of $719,100.00. Following the transaction, the director now directly owns 145,610 shares in the company, valued at $10,470,815.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,022 shares of company stock worth $7,198,345. Insiders own 1.97% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank increased its position in 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 last quarter. Van ECK Associates Corp increased its position in 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 last quarter. Sei Investments Co. increased its position in ResMed by 26.1% in the third quarter. Sei Investments Co. now owns 2,172 shares of the medical equipment provider’s stock valued at $141,000 after buying an additional 450 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its position in 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 last quarter. Finally, Pittenger & Anderson Inc. increased its position in 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 last quarter. 62.51% of the stock is currently owned by institutional investors and hedge funds.
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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