“We worked with Sleep Review magazine to survey US sleep centers. The survey included 136 responses received between 1/30/18 and 2/19/18. Compared to our prior (3Q17) survey, actual last-12-month patient volume growth decreased slightly while expected next-12-month patient volume growth increased slightly. RMD’s flow generator ratings were in line with Respironics’ ratings while RMD’s mask ratings were the highest but only slightly above its competitors’ ratings. RMD looks likely to gain branded flow generator prescription share but to lose branded mask prescription share. Overall, we think that the survey is mixed for RMD and we maintain our Hold rating.”,” the firm’s analyst wrote.
A number of other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of ResMed from a hold rating to a buy rating and set a $107.00 target price for the company in a report on Tuesday, March 6th. ValuEngine upgraded shares of ResMed from a hold rating to a buy rating in a report on Thursday, March 1st. Northland Securities upgraded shares of ResMed from an under perform rating to a market perform rating in a report on Tuesday, January 23rd. Macquarie downgraded shares of ResMed from a neutral rating to a sell rating in a report on Tuesday, January 23rd. Finally, BMO Capital Markets upped their price objective on shares of ResMed to $90.00 and gave the company a market perform rating in a report on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $75.17.
ResMed (NYSE:RMD) last announced its earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.22. The business had revenue of $601.27 million during the quarter, compared to the consensus estimate of $583.77 million. ResMed had a net margin of 12.98% and a return on equity of 22.75%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. equities analysts expect that ResMed will post 3.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 8th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, February 7th. This represents a $1.40 annualized dividend and a dividend yield of 1.40%. ResMed’s dividend payout ratio (DPR) is currently 70.00%.
In other news, insider James Hollingshead sold 600 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $84.96, for a total transaction of $50,976.00. Following the transaction, the insider now owns 62,602 shares in the company, valued at $5,318,665.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $84.99, for a total transaction of $106,237.50. Following the transaction, the chief financial officer now owns 78,322 shares in the company, valued at approximately $6,656,586.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,139 shares of company stock worth $4,398,906. Corporate insiders own 1.77% of the company’s stock.
Large investors have recently modified their holdings of the stock. Toronto Dominion Bank increased its holdings in ResMed by 13.4% in the 4th quarter. Toronto Dominion Bank now owns 61,142 shares of the medical equipment provider’s stock worth $5,178,000 after buying an additional 7,216 shares during the period. Pittenger & Anderson Inc. increased its holdings in ResMed by 23.5% in the 3rd quarter. Pittenger & Anderson Inc. now owns 12,765 shares of the medical equipment provider’s stock worth $982,000 after buying an additional 2,425 shares during the period. First Business Financial Services Inc. increased its holdings in ResMed by 25.4% in the 4th quarter. First Business Financial Services Inc. now owns 8,100 shares of the medical equipment provider’s stock worth $686,000 after buying an additional 1,643 shares during the period. West Coast Financial LLC increased its holdings in ResMed by 1.6% in the 4th quarter. West Coast Financial LLC now owns 81,813 shares of the medical equipment provider’s stock worth $6,929,000 after buying an additional 1,250 shares during the period. Finally, California Public Employees Retirement System increased its holdings in ResMed by 8.0% in the 4th quarter. California Public Employees Retirement System now owns 323,758 shares of the medical equipment provider’s stock worth $27,419,000 after buying an additional 23,960 shares during the period. Institutional investors own 61.61% of the company’s stock.
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ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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