ResMed’s (RMD) “Hold” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their hold rating on shares of ResMed (NYSE:RMD) in a research report report published on Friday,Benzinga reports.

Several other brokerages have also weighed in on RMD. Robert W. Baird upped their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Piper Sandler assumed coverage on shares of ResMed in a report on Friday, January 10th. They set a “neutral” rating and a $252.00 price objective on the stock. StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. The Goldman Sachs Group assumed coverage on shares of ResMed in a report on Thursday, January 16th. They set a “buy” rating on the stock. Finally, Stifel Nicolaus assumed coverage on shares of ResMed in a report on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.73.

ResMed Price Performance

RMD stock opened at $236.66 on Friday. The firm has a market cap of $34.74 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 1.83 and a beta of 0.70. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. ResMed has a 12-month low of $170.56 and a 12-month high of $263.05. The company’s fifty day simple moving average is $240.17 and its 200 day simple moving average is $236.41.

ResMed (NYSE:RMD) last released its earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 23.15% and a return on equity of 25.53%. On average, analysts expect that ResMed will post 9.35 earnings per share for the current year.

ResMed Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, February 13th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s dividend payout ratio is currently 28.08%.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $248.74, for a total value of $497,480.00. Following the transaction, the director now owns 83,204 shares in the company, valued at approximately $20,696,162.96. This represents a 2.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Justin Leong sold 6,160 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This represents a 22.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,030 shares of company stock worth $2,702,687 over the last 90 days. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On ResMed

Several institutional investors have recently made changes to their positions in RMD. True Wealth Design LLC boosted its stake in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed during the third quarter worth $34,000. Rosenberg Matthew Hamilton acquired a new position in shares of ResMed during the 4th quarter valued at about $54,000. Capital Performance Advisors LLP acquired a new position in ResMed in the third quarter valued at about $60,000. Finally, Quarry LP lifted its position in shares of ResMed by 271.9% during the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 242 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

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.