Shares of ResMed Inc. (NYSE:RMD) have received a consensus rating of “Buy” from the eight analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $121.50.
A number of research analysts have weighed in on the company. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research note on Monday, July 8th. ValuEngine downgraded ResMed from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Goldman Sachs Group upgraded ResMed from a “neutral” rating to a “buy” rating in a research note on Monday, July 29th. Finally, UBS Group upgraded ResMed from a “neutral” rating to a “buy” rating and raised their price target for the company from $122.00 to $140.00 in a research note on Monday, July 29th.
RMD stock traded up $1.88 during mid-day trading on Wednesday, reaching $132.11. The company had a trading volume of 13,054 shares, compared to its average volume of 759,424. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.06 and a quick ratio of 1.43. The stock has a 50 day simple moving average of $134.92 and a two-hundred day simple moving average of $120.41. The company has a market capitalization of $19.02 billion, a price-to-earnings ratio of 36.29, a PEG ratio of 3.19 and a beta of 0.41. ResMed has a 52 week low of $90.64 and a 52 week high of $141.25.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, July 25th. The medical equipment provider reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.03. The firm had revenue of $705.00 million during the quarter, compared to the consensus estimate of $701.56 million. ResMed had a return on equity of 26.49% and a net margin of 15.52%. The business’s revenue was up 13.1% compared to the same quarter last year. During the same period last year, the company earned $0.95 earnings per share. On average, equities analysts predict that ResMed will post 3.91 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 1.18%. This is a boost from ResMed’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Wednesday, August 14th. ResMed’s dividend payout ratio (DPR) is presently 42.86%.
In other news, insider Richard Mchale sold 12,306 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $127.06, for a total value of $1,563,600.36. Following the completion of the sale, the insider now directly owns 11,215 shares of the company’s stock, valued at $1,424,977.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald R. Taylor sold 4,429 shares of ResMed stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $136.34, for a total value of $603,849.86. Following the sale, the director now directly owns 19,855 shares of the company’s stock, valued at $2,707,030.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,826 shares of company stock valued at $8,799,312. Insiders own 1.24% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in RMD. BTIM Corp. raised its holdings in ResMed by 0.3% in the 2nd quarter. BTIM Corp. now owns 68,965 shares of the medical equipment provider’s stock valued at $8,416,000 after acquiring an additional 203 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in ResMed by 4.3% in the 2nd quarter. Asset Management One Co. Ltd. now owns 76,848 shares of the medical equipment provider’s stock valued at $9,377,000 after acquiring an additional 3,157 shares in the last quarter. First Trust Advisors LP raised its holdings in ResMed by 26.8% in the 1st quarter. First Trust Advisors LP now owns 478,422 shares of the medical equipment provider’s stock valued at $49,742,000 after acquiring an additional 101,152 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in ResMed by 200.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 210,615 shares of the medical equipment provider’s stock valued at $21,898,000 after acquiring an additional 140,418 shares in the last quarter. Finally, Banco Santander S.A. acquired a new position in ResMed in the 2nd quarter valued at $3,237,000. 66.41% of the stock is owned by institutional investors and hedge funds.
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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