ResMed Inc. (NYSE:RMD) Given Consensus Rating of “Hold” by Brokerages
Shares of ResMed Inc. (NYSE:RMD) have been assigned a consensus rating of “Hold” from the twelve analysts that are currently covering the company, MarketBeat reports. Four investment analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $65.00.
Several equities research analysts recently commented on the stock. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a research report on Thursday, July 6th. BidaskClub upgraded shares of ResMed from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 17th. Jefferies Group LLC reiterated a “sell” rating and issued a $56.00 price objective on shares of ResMed in a research note on Friday, April 28th. Citigroup Inc. lowered shares of ResMed from a “buy” rating to a “neutral” rating in a research note on Friday, April 28th. Finally, BMO Capital Markets restated a “hold” rating on shares of ResMed in a research note on Friday, May 12th.
ResMed (NYSE RMD) traded up 0.25% during midday trading on Monday, hitting $77.19. 1,065,487 shares of the stock were exchanged. The firm’s 50-day moving average is $76.25 and its 200 day moving average is $70.99. ResMed has a 52 week low of $56.59 and a 52 week high of $79.44. The stock has a market cap of $10.95 billion, a price-to-earnings ratio of 33.86 and a beta of 0.84.
ResMed (NYSE:RMD) last released its earnings results on Thursday, April 27th. The medical equipment provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. ResMed had a net margin of 15.96% and a return on equity of 22.53%. The business had revenue of $514.20 million during the quarter, compared to analyst estimates of $525.84 million. During the same period in the prior year, the business earned $0.68 earnings per share. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Equities research analysts expect that ResMed will post $2.80 EPS for the current fiscal year.
In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the firm’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $68.60, for a total value of $85,750.00. Following the completion of the sale, the chief financial officer now owns 62,783 shares in the company, valued at approximately $4,306,913.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Sulpizio sold 65,887 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now owns 4,429 shares of the company’s stock, valued at approximately $344,664.78. The disclosure for this sale can be found here. Insiders have sold a total of 180,261 shares of company stock valued at $13,560,373 in the last quarter. 1.97% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of RMD. BlackRock Inc. boosted its stake in ResMed by 5,439.8% in the first quarter. BlackRock Inc. now owns 13,335,138 shares of the medical equipment provider’s stock valued at $959,731,000 after buying an additional 13,094,421 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of ResMed by 4.6% in the first quarter. Vanguard Group Inc. now owns 11,535,707 shares of the medical equipment provider’s stock valued at $830,225,000 after buying an additional 508,392 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 valued at $330,983,000 after buying an additional 95,552 shares in the last quarter. FMR LLC boosted its stake in shares of ResMed by 1.9% in the first quarter. FMR LLC now owns 4,010,810 shares of the medical equipment provider’s stock valued at $288,659,000 after buying an additional 74,389 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of ResMed by 69.1% in the first quarter. Morgan Stanley now owns 1,344,234 shares of the medical equipment provider’s stock valued at $96,744,000 after buying an additional 549,279 shares in the last quarter. Hedge funds and other institutional investors own 60.73% of the company’s stock.
ResMed Company Profile
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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