ResMed Inc. (RMD) Receives Average Rating of “Hold” from Analysts
Shares of ResMed Inc. (NYSE:RMD) have received a consensus rating of “Hold” from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $61.00.
A number of equities research analysts recently issued reports on RMD shares. BidaskClub cut shares of ResMed from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research upgraded shares of ResMed from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a research report on Thursday, July 6th. Citigroup Inc. upgraded shares of ResMed from a “neutral” rating to a “buy” rating in a research report on Wednesday, August 2nd. BMO Capital Markets reiterated a “hold” rating on shares of ResMed in a research report on Friday, May 12th. Finally, Credit Suisse Group cut shares of ResMed from an “outperform” rating to a “neutral” rating in a research report on Wednesday, August 2nd.
ResMed (NYSE:RMD) traded up 0.38% on Friday, reaching $73.07. 529,536 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $75.98 and a 200-day moving average of $72.38. ResMed has a 12 month low of $56.59 and a 12 month high of $79.63. The firm has a market capitalization of $10.39 billion, a price-to-earnings ratio of 30.45 and a beta of 0.83.
ResMed (NYSE:RMD) last announced its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.02. The business had revenue of $556.69 million during the quarter, compared to analysts’ expectations of $557.68 million. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. On average, equities analysts expect that ResMed will post $3.03 earnings per share for the current year.
The business also recently disclosed 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. The ex-dividend date is Tuesday, August 15th. This represents a $1.40 dividend on an annualized basis and a yield of 1.92%. This is a positive change from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio is currently 58.09%.
In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction dated 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 document filed with the SEC, which is accessible through this link. Also, Director Richard Sulpizio sold 65,887 shares of the stock in a transaction dated Thursday, June 22nd. The stock was 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 in the company, valued at approximately $344,664.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 204,650 shares of company stock worth $15,516,845. Insiders own 1.97% of the company’s stock.
A number of large investors have recently modified their holdings of the company. Toronto Dominion Bank raised its stake in shares of ResMed by 26.6% in the first quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock worth $111,000 after buying an additional 324 shares in the last quarter. YorkBridge Wealth Partners LLC raised 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 in the last quarter. Creative Planning raised its stake in shares of ResMed by 97.1% in the second quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock worth $130,000 after buying an additional 823 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of ResMed by 7.5% in the first quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock worth $140,000 after buying an additional 136 shares in the last quarter. Finally, Huntington National Bank bought a new stake in shares of ResMed during the second quarter worth approximately $156,000. 60.66% of the stock is currently owned by hedge funds and other institutional investors.
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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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