ResMed Inc. (NYSE:RMD)‘s stock had its “hold” rating reaffirmed by stock analysts at BMO Capital Markets in a research note issued to investors on Friday, May 12th.
Several other equities research analysts have also commented on the company. J P Morgan Chase & Co lowered ResMed from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $72.00 to $71.00 in a research note on Thursday, April 20th. Zacks Investment Research lowered ResMed from a “buy” rating to a “hold” rating in a research note on Tuesday, March 28th. William Blair reaffirmed an “outperform” rating on shares of ResMed in a research note on Thursday, April 13th. Citigroup Inc. lowered ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, April 28th. Finally, Jefferies Group LLC reaffirmed a “sell” rating and issued a $56.00 target price on shares of ResMed in a research note on Friday, April 28th. Four investment analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $63.75.
Shares of ResMed (NYSE:RMD) traded up 1.22% during trading on Friday, hitting $77.10. The stock had a trading volume of 1,319,308 shares. The stock has a 50-day moving average price of $70.62 and a 200 day moving average price of $68.33. ResMed has a 12 month low of $56.59 and a 12 month high of $77.45. The company has a market cap of $10.93 billion, a P/E ratio of 33.82 and a beta of 0.83.
ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, April 27th. The medical equipment provider reported $0.71 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.01. The business had revenue of $514.20 million for the quarter, compared to analyst estimates of $525.84 million. ResMed had a return on equity of 22.53% and a net margin of 15.96%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.68 EPS. Equities analysts expect that ResMed will post $2.80 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, May 11th were issued a $0.33 dividend. The ex-dividend date was Tuesday, May 9th. This represents a $1.32 annualized dividend and a yield of 1.71%. ResMed’s dividend payout ratio (DPR) is presently 57.64%.
In other news, Director Peter C. Farrell sold 20,000 shares of the company’s stock in a transaction on Tuesday, April 4th. The stock was sold at an average price of $70.67, for a total transaction of $1,413,400.00. Following the completion of the sale, the director now directly owns 321,557 shares in the company, valued at approximately $22,724,433.19. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $71.65, for a total value of $89,562.50. Following the sale, the chief financial officer now owns 64,033 shares of the company’s stock, valued at $4,587,964.45. The disclosure for this sale can be found here. Insiders sold a total of 114,374 shares of company stock valued at $8,207,803 over the last quarter. 1.97% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI increased its stake in ResMed by 0.3% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 5,238 shares of the medical equipment provider’s stock worth $377,000 after buying an additional 14 shares during the last quarter. Morgan Dempsey Capital Management LLC increased its stake 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 worth $158,000 after buying an additional 50 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in ResMed by 0.3% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,870 shares of the medical equipment provider’s stock worth $1,295,000 after buying an additional 59 shares during the last quarter. Intrust Bank NA increased its stake in ResMed by 1.0% in the first quarter. Intrust Bank NA now owns 7,101 shares of the medical equipment provider’s stock worth $511,000 after buying an additional 73 shares during the last quarter. Finally, Pacer Advisors Inc. increased its stake in ResMed by 3.0% in the first quarter. Pacer Advisors Inc. now owns 2,699 shares of the medical equipment provider’s stock worth $194,000 after buying an additional 79 shares during the last quarter. Institutional investors and hedge funds own 60.75% of the company’s stock.
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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