Shares of ResMed Inc. (NYSE:RMD – Get Rating) received an average rating of “Hold” from the ten analysts who cover the stock, MarketBeat reports. Five equity research analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The 12-month average target price among analysts who have covered the stock over the past year is $265.50.
A number of analysts have recently commented on the company. JPMorgan Chase & Co. downgraded ResMed from an “overweight” rating to a “neutral” rating in a Friday, August 12 research report. StockNews.com downgraded ResMed from a “buy” rating to a “hold” rating in a Tuesday, August 9 report. Citigroup downgraded ResMed from a “buy” rating to a “neutral” rating in a Friday, August 12 report. They noted that the move was a review call. Finally, Royal Bank of Canada downgraded ResMed shares from an “outperforming” rating to an “sector outperforming” rating and raised its price target for the company from $246.00 to $252.00. in a Friday, August 12 research report. They noted that the move was a review call.
Insider buying and selling
In related news, CEO Michael J. Farrell sold 5,675 ResMed shares in a trade that took place on Wednesday, June 15. The stock was sold at an average price of $202.54, for a total transaction of $1,149,414.50. Following completion of the transaction, the CEO now directly owns 405,260 shares of the company, valued at approximately $82,081,360.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. In other ResMed news, CEO Michael J. Farrell sold 5,675 shares of the company in a trade on Wednesday, June 15. The stock was sold at an average price of $202.54, for a total value of $1,149,414.50. Following completion of the transaction, the CEO now directly owns 405,260 shares of the company, valued at approximately $82,081,360.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Additionally, Chief Financial Officer Brett Sandercock sold 7,500 shares of the company in a trade on Friday, July 22. The shares were sold at an average price of $235.00, for a total value of $1,762,500.00. Following the completion of the transaction, the CFO now owns 106,426 shares of the company, valued at $25,010,110. The disclosure of this sale can be found here. Insiders sold 25,985 shares of the company worth $5,813,646 in the past ninety days. Insiders own 1.42% of the shares of the company.
Institutional entries and exits
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in ResMed by 1.6% in Q1. Vanguard Group Inc. now owns 15,867,457 shares of the medical equipment supplier valued at $3,848,017,000 after acquiring an additional 254,208 shares in the last quarter. BlackRock Inc. increased its stake in ResMed shares by 2.4% during the 1st quarter. BlackRock Inc. now owns 13,359,715 shares of the medical equipment supplier valued at $3,239,867,000 after purchasing an additional 310,980 shares during the period. FMR LLC increased its stake in ResMed shares by 7.7% during the 2nd quarter. FMR LLC now owns 7,519,624 shares of the medical equipment supplier valued at $1,576,339,000 after purchasing an additional 535,742 shares during the period. State Street Corp increased its stake in ResMed shares by 4.1% during the 4th quarter. State Street Corp now owns 6,523,922 shares of the medical equipment supplier valued at $1,699,351,000 after purchasing an additional 255,361 shares during the period. Finally, Capital World Investors increased its holding in ResMed shares by 24.3% during the 1st quarter. Capital World Investors now owns 4,470,998 shares of the medical equipment supplier valued at $1,084,262,000 after purchasing an additional 875,001 shares during the period. 65.24% of the shares are currently held by institutional investors and hedge funds.
ResMed stock up 0.1%
RMD opened at $236.41 on Thursday. The company’s 50-day simple moving average is $222.05 and its 200-day simple moving average is $226.40. The company has a debt ratio of 0.23, a quick ratio of 1.72 and a current ratio of 2.80. ResMed has a one-year minimum of $189.40 and a one-year maximum of $301.34. The stock has a market capitalization of $34.58 billion, a P/E ratio of 44.52, a price-to-earnings growth ratio of 3.40 and a beta of 0.47.
ResMed (NYSE:RMD – Get Rating) last released its results on Thursday, August 11. The medical equipment supplier reported EPS of $1.49 for the quarter, beating analysts’ consensus estimate of $1.48 by $0.01. ResMed had a return on equity of 26.56% and a net margin of 21.78%. The company posted revenue of $914.74 million for the quarter, compared to $912.53 million expected by analysts. In the same quarter of the previous year, the company made earnings per share of $1.35. The company’s revenues increased by 4.4% compared to the same quarter last year. Analysts expect ResMed to post EPS of 6.57 for the current year.
ResMed increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 22. Investors of record on Thursday, August 18 will receive a dividend of $0.44 per share. This is an increase from ResMed’s previous quarterly dividend of $0.42. This represents an annualized dividend of $1.76 and a dividend yield of 0.74%. The ex-dividend date is Wednesday, August 17. ResMed’s payout ratio is currently 31.64%.
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ResMed Inc develops, manufactures, distributes and markets cloud-based medical devices and software applications for healthcare markets. The Company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies for application in medical and consumer products, ventilator devices, diagnostic products, mask systems for hospital and home use. , helmets and other accessories, dental appliances and the cloud. software-based IT solutions to manage patient outcomes, as well as to deliver customer and business processes.
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