ResMed (NYSE:RMD) Sees Strong Trading Volume

ResMed Inc. (NYSE:RMD) saw unusually-strong trading volume on Wednesday . Approximately 2,218,542 shares changed hands during mid-day trading, an increase of 125% from the previous session’s volume of 986,227 shares.The stock last traded at $173.08 and had previously closed at $184.86.

Analyst Ratings Changes

A number of analysts recently commented on RMD shares. Mizuho reaffirmed a “buy” rating and issued a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. UBS Group raised their price target on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. KeyCorp started coverage on ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 price target for the company. Royal Bank of Canada raised their price target on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Finally, Needham & Company LLC raised their price target on ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, ResMed currently has an average rating of “Moderate Buy” and a consensus target price of $199.20.

ResMed Trading Down 6.0 %

The firm has a 50-day moving average price of $186.67 and a 200-day moving average price of $170.14. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. The stock has a market cap of $25.57 billion, a PE ratio of 28.62, a price-to-earnings-growth ratio of 2.29 and a beta of 0.67.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.81 by $0.07. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. ResMed’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 EPS. As a group, equities analysts anticipate that ResMed Inc. will post 7.46 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were issued a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.92 annualized dividend and a yield of 1.10%. ResMed’s payout ratio is 31.74%.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ResMed news, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now directly owns 6,688 shares in the company, valued at approximately $1,158,696. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,216 shares of company stock worth $2,046,617. 1.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ResMed

A number of large investors have recently made changes to their positions in RMD. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of ResMed during the 3rd quarter valued at about $26,000. Compass Wealth Management LLC bought a new stake in shares of ResMed during the 4th quarter valued at about $26,000. International Assets Investment Management LLC bought a new stake in shares of ResMed during the 3rd quarter valued at about $27,000. EverSource Wealth Advisors LLC grew its stake in shares of ResMed by 224.6% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 185 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 128 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in shares of ResMed during the 4th quarter valued at approximately $27,000. 54.98% of the stock is currently owned by institutional investors.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.