Shares of ResMed Inc. (NYSE:RMD) have earned an average recommendation of “Hold” from the thirteen brokerages that are presently covering the company. Five research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is C$59.00.
A number of research firms have recently weighed in on RMD. Jefferies Group lowered ResMed from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $60.00 to $58.00 in a research note on Tuesday, August 23rd. 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. Barclays PLC reiterated an “underweight” rating and issued a $55.00 target price on shares of ResMed in a research report on Friday, August 26th. Needham & Company LLC reiterated an “underperform” rating on shares of ResMed in a research report on Tuesday, August 30th. Finally, Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th.
In other ResMed news, Director Ronald R. Taylor purchased 2,487 shares of ResMed stock in a transaction dated Wednesday, August 17th. The shares were purchased at an average cost of C$69.13 per share, for a total transaction of C$171,926.31. Following the completion of the acquisition, the director now owns 16,729 shares in the company, valued at approximately C$1,156,475.77. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brett Sandercock sold 35,000 shares of the stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of C$70.50, for a total value of C$2,467,500.00. The disclosure for this sale can be found here. 1.97% of the stock is owned by insiders.
Several large investors have recently modified their holdings of RMD. Commonwealth Equity Services Inc increased its stake in shares of ResMed by 0.3% in the second quarter. Commonwealth Equity Services Inc now owns 5,377 shares of the company’s stock valued at $340,000 after buying an additional 18 shares during the last quarter. Citigroup Inc. increased its stake in shares of ResMed by 2.8% in the second quarter. Citigroup Inc. now owns 1,572 shares of the company’s stock valued at $100,000 after buying an additional 43 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of 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 during the last quarter. World Asset Management Inc increased its stake in shares of ResMed by 1.2% in the second quarter. World Asset Management Inc now owns 7,346 shares of the company’s stock valued at $464,000 after buying an additional 85 shares during the last quarter. Finally, Utah Retirement Systems increased its stake in shares of ResMed by 0.4% in the second quarter. Utah Retirement Systems now owns 25,383 shares of the company’s stock valued at $1,605,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.
ResMed (NYSE:RMD) opened at 64.50 on Tuesday. The stock has a market capitalization of $9.08 billion, a PE ratio of 25.90 and a beta of 0.68. The company’s 50 day moving average price is $65.92 and its 200-day moving average price is $62.44. ResMed has a one year low of $50.77 and a one year high of $70.90.
ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.74. The firm earned $518.60 million during 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%. The business’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 earnings per share. Analysts expect that ResMed will post $2.88 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, August 18th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.05%. This is an increase from ResMed’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, August 16th. ResMed’s dividend payout ratio is presently 54.32%.
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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