Shares of ResMed Inc. (NYSE:RMD) have earned a consensus rating of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Four investment analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $61.00.
RMD has been the topic of a number of research analyst reports. Jefferies Group LLC restated a “sell” rating and set a $56.00 price objective on shares of ResMed in a research report on Friday, April 28th. Citigroup Inc. downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. BMO Capital Markets restated a “hold” rating on shares of ResMed in a research report on Friday, May 12th. BidaskClub upgraded shares of ResMed from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 17th. Finally, Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th.
ResMed (RMD) traded down 0.86% during mid-day trading on Friday, hitting $73.91. The company had a trading volume of 510,925 shares. The firm has a market capitalization of $10.51 billion, a PE ratio of 30.80 and a beta of 0.83. ResMed has a 12-month low of $56.59 and a 12-month high of $79.63. The company’s 50 day moving average price is $75.60 and its 200-day moving average price is $72.60.
ResMed (NYSE:RMD) last issued its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.02. The firm had revenue of $556.69 million for the quarter, compared to the consensus estimate of $557.68 million. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The business’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.74 earnings per share. On average, analysts forecast that ResMed will post $3.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.35 per share. This is a boost from ResMed’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date is Tuesday, August 15th. ResMed’s dividend payout ratio is currently 58.09%.
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In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $71.02, for a total transaction of $88,775.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard Sulpizio sold 65,887 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $77.82, for a total transaction of $5,127,326.34. Following the sale, the director now directly owns 4,429 shares of the company’s stock, valued at $344,664.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 204,650 shares of company stock valued at $15,516,845. 1.97% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in RMD. BlackRock Inc. boosted its stake in shares of ResMed by 6.8% in the second quarter. BlackRock Inc. now owns 14,240,077 shares of the medical equipment provider’s stock worth $1,108,877,000 after buying an additional 904,939 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of ResMed by 3.3% in the second quarter. Vanguard Group Inc. now owns 11,914,671 shares of the medical equipment provider’s stock worth $927,797,000 after buying an additional 378,964 shares in the last quarter. FMR LLC boosted its stake in shares of ResMed by 38.2% in the second quarter. FMR LLC now owns 5,542,582 shares of the medical equipment provider’s stock worth $431,601,000 after buying an additional 1,531,772 shares in the last quarter. State Street Corp boosted its stake in shares of ResMed by 2.1% in the first quarter. State Street Corp now owns 4,598,911 shares of the medical equipment provider’s stock worth $330,983,000 after buying an additional 95,552 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of ResMed by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 2,266,663 shares of the medical equipment provider’s stock worth $176,505,000 after buying an additional 25,925 shares in the last quarter. 60.66% of the stock is owned by institutional investors and hedge funds.
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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