ResMed (NYSE:RMD) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of ResMed (NYSE:RMD – Get Rating) in a report published on Thursday. The firm issued a hold rating on the medical equipment provider’s stock.

Other analysts also recently issued reports about the stock. JPMorgan Chase & Co. boosted their target price on shares of ResMed from $245.00 to $260.00 and gave the stock an overweight rating in a research report on Friday, January 27th. Citigroup raised shares of ResMed from a neutral rating to a buy rating in a research report on Wednesday, January 18th. Finally, William Blair reissued an outperform rating on shares of ResMed in a research report on Tuesday, January 31st. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, ResMed has an average rating of Moderate Buy and an average target price of $263.17.

ResMed Stock Down 2.0 %

RMD stock opened at $207.10 on Thursday. ResMed has a 52-week low of $189.40 and a 52-week high of $262.38. The company’s 50 day simple moving average is $218.31 and its 200-day simple moving average is $219.28. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.17 and a quick ratio of 1.82. The firm has a market capitalization of $30.43 billion, a P/E ratio of 37.59, a P/E/G ratio of 1.99 and a beta of 0.48.

ResMed (NYSE:RMD – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The medical equipment provider reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. ResMed had a net margin of 21.51% and a return on equity of 25.46%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $996.22 million. During the same period in the previous year, the firm posted $1.47 earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts anticipate that ResMed will post 6.38 EPS for the current year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 16th. Shareholders of record on Thursday, February 9th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend was Wednesday, February 8th. ResMed’s dividend payout ratio is currently 31.94%.

Insider Activity

In related news, COO Robert Andrew Douglas sold 1,500 shares of the stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $206.14, for a total value of $309,210.00. Following the sale, the chief operating officer now directly owns 258,026 shares in the company, valued at approximately $53,189,479.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other ResMed news, COO Robert Andrew Douglas sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $206.14, for a total transaction of $309,210.00. Following the sale, the chief operating officer now directly owns 258,026 shares in the company, valued at approximately $53,189,479.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brett Sandercock sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $215.00, for a total transaction of $860,000.00. Following the sale, the chief financial officer now owns 116,880 shares in the company, valued at $25,129,200. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,619 shares of company stock valued at $6,598,428. 1.39% of the stock is currently owned by insiders.

Institutional Trading of ResMed

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of ResMed in the third quarter valued at $26,000. Compass Wealth Management LLC acquired a new stake in shares of ResMed during the fourth quarter worth $26,000. Ronald Blue Trust Inc. lifted its holdings in shares of ResMed by 72.8% during the fourth quarter. Ronald Blue Trust Inc. now owns 159 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 67 shares in the last quarter. Guardian Wealth Advisors LLC acquired a new stake in shares of ResMed during the third quarter worth $36,000. Finally, Coston McIsaac & Partners acquired a new stake in shares of ResMed during the second quarter worth $41,000. 64.73% of the stock is currently owned by institutional investors and hedge funds.

About ResMed

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ResMed, Inc engages in providing digital health and cloud-connected medical devices. Its digital health technologies and cloud-connected medical devices transform care for people with sleep apnea, chronic obstructive pulmonary disease, or COPD, and other chronic diseases. The firm operates through the Sleep and Respiratory Care and Software as a Service segments.