A number of other brokerages have also issued reports on RMD. Needham & Company LLC reaffirmed a sell rating on shares of ResMed in a research report on Monday, September 12th. Jefferies Group boosted their target price on ResMed from $56.00 to $60.00 and gave the stock a hold rating in a research report on Friday, July 29th. Northland Securities set a $50.00 target price on ResMed and gave the stock a sell rating in a research report on Monday, August 29th. Bank of America Corp. reaffirmed a hold rating and set a $65.00 target price on shares of ResMed in a research report on Sunday, July 10th. Finally, Zacks Investment Research downgraded ResMed from a hold rating to a sell rating in a report on Friday, July 8th. Five investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of C$60.10.
ResMed (NYSE:RMD) opened at 64.50 on Tuesday. The stock has a market capitalization of $9.08 billion, a P/E ratio of 25.90 and a beta of 0.68. ResMed has a 12-month low of $50.77 and a 12-month high of $70.90. The stock has a 50 day moving average price of $65.92 and a 200-day moving average price of $62.44.
ResMed (NYSE:RMD) last announced its earnings results on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.74. The company had revenue of $518.60 million for the quarter, compared to analyst estimates of $512.37 million. ResMed had a return on equity of 23.89% and a net margin of 18.63%. ResMed’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. Equities research analysts expect that ResMed will post $2.88 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, August 18th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend was Tuesday, August 16th. This is an increase from ResMed’s previous quarterly dividend of $0.30. ResMed’s dividend payout ratio is 54.32%.
In related news, CFO Brett Sandercock sold 35,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of C$70.50, for a total transaction of C$2,467,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald R. Taylor acquired 2,487 shares of the business’s stock in a transaction that occurred on Wednesday, August 17th. The shares were acquired at an average cost of C$69.13 per share, with a total value of C$171,926.31. Following the transaction, the director now directly owns 16,729 shares in the company, valued at approximately C$1,156,475.77. The disclosure for this purchase can be found here. Insiders own 1.97% of the company’s stock.
Several institutional investors have recently bought and sold shares of RMD. Independent Portfolio Consultants Inc. boosted its position in ResMed by 3.1% in the third quarter. Independent Portfolio Consultants Inc. now owns 12,227 shares of the company’s stock valued at $792,000 after buying an additional 372 shares in the last quarter. KAMES CAPITAL plc acquired a new position in ResMed during the second quarter valued at $768,000. Northwestern Mutual Investment Management Company LLC boosted its position in ResMed by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 24,240 shares of the company’s stock valued at $1,533,000 after buying an additional 79 shares in the last quarter. Mason Street Advisors LLC acquired a new position in ResMed during the second quarter valued at $4,049,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in ResMed by 9.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,002 shares of the company’s stock valued at $252,000 after buying an additional 334 shares in the last quarter. 61.07% of the stock is owned by institutional investors and hedge funds.
ResMed Company Profile
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
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