ResMed Inc. (NYSE:RMD) was downgraded by research analysts at Credit Suisse Group from an “outperform” rating to a “neutral” rating in a report issued on Tuesday, August 8th.
RMD has been the topic of a number of other reports. Zacks Investment Research raised ResMed from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research report on Thursday, July 6th. Citigroup Inc. raised ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, August 2nd. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “sell” rating and set a $56.00 price objective on shares of ResMed in a report on Friday, April 28th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of ResMed in a report on Friday, May 12th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. ResMed currently has a consensus rating of “Hold” and an average target price of $65.63.
ResMed (NYSE RMD) traded up 0.38% on Tuesday, reaching $73.07. The company’s stock had a trading volume of 529,536 shares. ResMed has a 52 week low of $56.59 and a 52 week high of $79.63. The firm has a market capitalization of $10.39 billion, a PE ratio of 30.45 and a beta of 0.83. The stock’s 50 day moving average is $75.98 and its 200-day moving average is $72.38.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The business had revenue of $556.69 million for the quarter, compared to analyst estimates of $557.68 million. During the same period in the previous year, the company posted $0.74 earnings per share. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. Analysts predict that ResMed will post $3.03 EPS for the current year.
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In other news, insider David Pendarvis sold 6,365 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $72.62, for a total transaction of $462,226.30. Following the completion of the transaction, the insider now directly owns 84,477 shares in the company, valued at approximately $6,134,719.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $71.02, for a total transaction of $88,775.00. The disclosure for this sale can be found here. Insiders sold a total of 204,650 shares of company stock valued at $15,516,845 in the last three months. 1.97% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. YorkBridge Wealth Partners LLC boosted its stake in shares of ResMed by 4.9% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock worth $115,000 after buying an additional 69 shares during the last quarter. Toronto Dominion Bank boosted its position in ResMed by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock valued at $111,000 after buying an additional 324 shares in the last quarter. Creative Planning boosted its position in ResMed by 97.1% in the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after buying an additional 823 shares in the last quarter. Van ECK Associates Corp boosted its position in ResMed by 7.5% in the first quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after buying an additional 136 shares in the last quarter. Finally, Huntington National Bank bought a new position in ResMed during the second quarter valued at $156,000. Institutional investors own 60.66% of the company’s stock.
About ResMed
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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