ResMed Inc. Reaches New 12-Month High at $51.75 (RMD)
ResMed (NYSE:RMD)’s share price reached a new 52-week high during trading on Tuesday, Stock Ratings Network reports. The stock traded as high as $51.75 and last traded at $51.74, with a volume of 578,559 shares traded. The stock had previously closed at $50.67.
A number of analysts have recently weighed in on RMD shares. Analysts at Merrill Lynch upgraded shares of ResMed (NYSE:RMD) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, August 26th. Separately, analysts at Bank of America Corp. upgraded shares of ResMed (NYSE:RMD) from a “neutral” rating to a “buy” rating in a research note to investors on Monday, August 26th. Finally, analysts at Zacks downgraded shares of ResMed (NYSE:RMD) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, August 12th. They now have a $52.20 price target on the stock.
Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. ResMed currently has an average rating of “Hold” and an average target price of $47.53.
In other ResMed news, Director Peter C. Farrell sold 25,000 shares of ResMed stock on the open market in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $48.00, for a total value of $1,200,000.00. The sale was disclosed in a filing with the SEC, which is available at this link.
ResMed has a 52 week low of $38.08 and a 52 week high of $51.40. The stock has a 50-day moving average of $48.15 and a 200-day moving average of $46.73. The company has a market cap of $7.424 billion and a P/E ratio of 24.13.
ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The company reported $0.62 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.62. The company had revenue of $414.60 million for the quarter, compared to the consensus estimate of $410.89 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, analysts predict that ResMed will post $2.58 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 17th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, August 16th. This is a boost from ResMed’s previous quarterly dividend of $0.17.
ResMed Inc, (NYSE:RMD) is a holding company for the ResMed Group.
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