Shares of ResMed Inc. (NYSE:RMD – Get Free Report) have received an average rating of “Hold” from the twelve analysts that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $231.20.
Several brokerages recently issued reports on RMD. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. KeyCorp lifted their price target on ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. Royal Bank of Canada lifted their target price on shares of ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research report on Friday, October 25th. Finally, Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th.
View Our Latest Research Report on RMD
ResMed Stock Performance
ResMed (NYSE:RMD – Get Free Report) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company posted $1.64 earnings per share. Equities research analysts predict that ResMed will post 9.34 earnings per share for the current fiscal year.
ResMed Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.90%. ResMed’s dividend payout ratio (DPR) is presently 28.08%.
Insiders Place Their Bets
In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the transaction, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. This trade represents a 2.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Justin Leong sold 6,160 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $243.09, for a total value of $1,497,434.40. Following the sale, the insider now owns 21,718 shares of the company’s stock, valued at $5,279,428.62. The trade was a 22.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,359 shares of company stock valued at $3,735,309. Insiders own 0.71% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. True Wealth Design LLC raised its stake in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 110 shares during the period. Ashton Thomas Securities LLC acquired a new position in shares of ResMed during the third quarter worth about $34,000. Capital Performance Advisors LLP purchased a new stake in shares of ResMed in the third quarter worth about $60,000. Quest Partners LLC grew its stake in shares of ResMed by 44.1% in the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 100 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after buying an additional 242 shares during the period. 54.98% of the stock is owned by institutional investors and hedge funds.
About ResMed
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.
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