Shares of ResMed Inc. (NYSE:RMD) have been given a consensus recommendation of “Hold” by the fourteen analysts that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $72.25.
Several brokerages have recently issued reports on RMD. Zacks Investment Research downgraded shares of ResMed from a “buy” rating to a “hold” rating in a research note on Monday, February 5th. Needham & Company LLC upgraded shares of ResMed from an “underperform” rating to a “hold” rating in a research note on Tuesday, January 23rd. Northland Securities upgraded shares of ResMed from an “under perform” rating to a “market perform” rating in a research note on Tuesday, January 23rd. BMO Capital Markets upped their target price on shares of ResMed to $82.00 and gave the stock a “market perform” rating in a research note on Tuesday, December 12th. Finally, Macquarie downgraded shares of ResMed from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 23rd.
RMD traded down $1.59 during midday trading on Friday, reaching $93.62. The company’s stock had a trading volume of 580,498 shares, compared to its average volume of 567,563. The stock has a market cap of $13,608.09, a PE ratio of 33.20 and a beta of 0.90. ResMed has a 1 year low of $67.04 and a 1 year high of $104.78.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Thursday, February 8th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.50%. ResMed’s dividend payout ratio (DPR) is presently 49.65%.
In other news, Director Ronald R. Taylor sold 4,885 shares of the stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $99.71, for a total value of $487,083.35. Following the completion of the sale, the director now directly owns 21,751 shares of the company’s stock, valued at $2,168,792.21. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider James Hollingshead sold 600 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $94.01, for a total transaction of $56,406.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,889 shares of company stock valued at $4,497,666. Corporate insiders own 1.77% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in RMD. Elkfork Partners LLC purchased a new position in ResMed during the fourth quarter valued at $440,000. Xact Kapitalforvaltning AB grew its stake in ResMed by 11.3% during the fourth quarter. Xact Kapitalforvaltning AB now owns 16,254 shares of the medical equipment provider’s stock valued at $1,377,000 after acquiring an additional 1,649 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in ResMed by 23.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 11,890 shares of the medical equipment provider’s stock valued at $1,007,000 after acquiring an additional 2,248 shares in the last quarter. We Are One Seven LLC purchased a new position in ResMed during the fourth quarter valued at $402,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in ResMed by 80.0% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 6,300 shares of the medical equipment provider’s stock valued at $534,000 after acquiring an additional 2,800 shares in the last quarter. 62.40% of the stock is owned by hedge funds and other institutional investors.
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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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