ResMed Inc. (NYSE:RMD) reached a new 52-week high on Friday . The company traded as high as $108.26 and last traded at $107.93, with a volume of 1061797 shares trading hands. The stock had previously closed at $107.03.
A number of research firms have recently weighed in on RMD. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $107.00 price target for the company in a research report on Tuesday, March 6th. UBS Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Tuesday, April 24th. William Blair restated an “outperform” rating on shares of ResMed in a research report on Monday, April 16th. Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Wednesday, April 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Wednesday, March 7th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $76.67.
The stock has a market cap of $15.25 billion, a P/E ratio of 38.27 and a beta of 0.93. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.85 and a current ratio of 3.48.
ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 26th. The medical equipment provider reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.07. The firm had revenue of $591.60 million for the quarter, compared to analysts’ expectations of $575.75 million. ResMed had a net margin of 13.52% and a return on equity of 23.72%. The company’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.71 earnings per share. equities research analysts forecast that ResMed Inc. will post 3.5 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 14th. Shareholders of record on Thursday, May 10th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, May 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.30%. ResMed’s payout ratio is presently 49.65%.
In other ResMed news, CFO Brett Sandercock sold 2,000 shares of the business’s stock in a transaction on Friday, June 15th. The shares were sold at an average price of $106.76, for a total transaction of $213,520.00. Following the sale, the chief financial officer now owns 67,072 shares of the company’s stock, valued at $7,160,606.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary W. Pace sold 28,403 shares of the business’s stock in a transaction on Tuesday, May 8th. The stock was sold at an average price of $97.37, for a total transaction of $2,765,600.11. Following the sale, the director now directly owns 128,981 shares in the company, valued at approximately $12,558,879.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,226 shares of company stock worth $7,038,593. Insiders own 1.77% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Koch Industries Inc. grew its stake in shares of ResMed by 9.2% during the first quarter. Koch Industries Inc. now owns 6,067 shares of the medical equipment provider’s stock worth $597,000 after buying an additional 512 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of ResMed by 2.3% in the first quarter. Victory Capital Management Inc. now owns 26,503 shares of the medical equipment provider’s stock worth $2,610,000 after purchasing an additional 595 shares during the last quarter. Commerzbank Aktiengesellschaft FI grew its stake in shares of ResMed by 24.5% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 3,031 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 597 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of ResMed by 18.1% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,904 shares of the medical equipment provider’s stock worth $383,000 after purchasing an additional 598 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its stake in shares of ResMed by 15.4% in the first quarter. Daiwa Securities Group Inc. now owns 4,937 shares of the medical equipment provider’s stock worth $486,000 after purchasing an additional 657 shares during the last quarter. 62.21% of the stock is currently owned by hedge funds and other 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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