ResMed (RMD) Reaches New 52-Week High and Low at $107.20

ResMed Inc. (NYSE:RMD) shares reached a new 52-week high and low during trading on Tuesday . The stock traded as low as $107.20 and last traded at $107.34, with a volume of 13648 shares traded. The stock had previously closed at $106.56.

Several research firms recently commented on RMD. Zacks Investment Research cut ResMed from a “buy” rating to a “hold” rating in a research note on Tuesday. William Blair reiterated an “outperform” rating on shares of ResMed in a research note on Monday, April 16th. UBS Group cut ResMed from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 24th. Citigroup cut ResMed from a “buy” rating to a “neutral” rating in a research note on Wednesday, April 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Wednesday, March 7th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $76.67.

The company has a market cap of $15.21 billion, a PE ratio of 37.87 and a beta of 0.93. The company has a quick ratio of 2.85, a current ratio of 3.48 and a debt-to-equity ratio of 0.39.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 26th. The medical equipment provider reported $0.92 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.07. ResMed had a return on equity of 23.72% and a net margin of 13.52%. The firm had revenue of $591.60 million for the quarter, compared to analysts’ expectations of $575.75 million. During the same quarter in the prior year, the firm posted $0.71 earnings per share. ResMed’s revenue for the quarter was up 15.1% compared to the same quarter last year. research analysts forecast that ResMed Inc. will post 3.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Shareholders of record on Thursday, May 10th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 1.31%. The ex-dividend date is Wednesday, May 9th. ResMed’s payout ratio is currently 49.65%.

In other news, CFO Brett Sandercock sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $99.36, for a total transaction of $198,720.00. Following the completion of the transaction, the chief financial officer now directly owns 71,072 shares of the company’s stock, valued at $7,061,713.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James Hollingshead sold 600 shares of the company’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $98.19, for a total value of $58,914.00. Following the transaction, the insider now directly owns 59,940 shares of the company’s stock, valued at $5,885,508.60. The disclosure for this sale can be found here. Insiders have sold 68,226 shares of company stock worth $6,825,073 in the last 90 days. 1.77% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of RMD. Millennium Management LLC grew its holdings in shares of ResMed by 2,526.7% during the first quarter. Millennium Management LLC now owns 769,536 shares of the medical equipment provider’s stock valued at $75,776,000 after purchasing an additional 740,239 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of ResMed by 191.2% during the first quarter. JPMorgan Chase & Co. now owns 971,754 shares of the medical equipment provider’s stock valued at $95,687,000 after purchasing an additional 638,038 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of ResMed by 507.0% during the fourth quarter. Renaissance Technologies LLC now owns 282,234 shares of the medical equipment provider’s stock valued at $23,980,000 after purchasing an additional 235,734 shares during the last quarter. Guggenheim Capital LLC grew its holdings in shares of ResMed by 46.4% during the fourth quarter. Guggenheim Capital LLC now owns 722,480 shares of the medical equipment provider’s stock valued at $61,184,000 after purchasing an additional 229,030 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new position in shares of ResMed during the first quarter valued at approximately $19,458,000. 62.43% of the stock is owned by institutional investors.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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