ResMed Inc. (NYSE:RMD) had its price objective lowered by Jefferies Group to $56.00 in a report issued on Wednesday morning.
A number of other research firms also recently commented on RMD. Northland Securities set a $50.00 price objective on shares of ResMed and gave the stock a sell rating in a report on Monday, August 29th. Barclays PLC reaffirmed an underweight rating and issued a $55.00 price objective on shares of ResMed in a report on Friday, August 26th. Needham & Company LLC reaffirmed an underperform rating on shares of ResMed in a report on Tuesday, August 30th. Zacks Investment Research raised shares of ResMed from a sell rating to a hold rating in a report on Tuesday, July 26th. Finally, Canaccord Genuity reaffirmed a hold rating and issued a $57.00 price objective on shares of ResMed in a report on Monday, July 25th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of C$59.50.
ResMed (NYSE:RMD) opened at 60.35 on Wednesday. ResMed has a one year low of $50.77 and a one year high of $70.90. The stock has a 50 day moving average of $63.95 and a 200-day moving average of $63.07. The stock has a market cap of $8.50 billion, a P/E ratio of 24.63 and a beta of 0.68.
ResMed (NYSE:RMD) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by $0.02. ResMed had a return on equity of 23.10% and a net margin of 17.87%. The company had revenue of $465.45 million for the quarter, compared to analyst estimates of $475.05 million. During the same period in the previous year, the business posted $0.58 EPS. The firm’s quarterly revenue was up 13.1% compared to the same quarter last year. Analysts anticipate that ResMed will post $2.77 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, November 10th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, November 8th. ResMed’s dividend payout ratio is currently 55.00%.
In related news, Director Richard Sulpizio sold 36,000 shares of ResMed stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of C$70.15, for a total transaction of C$2,525,400.00. Following the sale, the director now directly owns 101,887 shares in the company, valued at C$7,147,373.05. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider James Hollingshead sold 1,967 shares of ResMed stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of C$64.71, for a total transaction of C$127,284.57. Following the sale, the insider now owns 45,513 shares in the company, valued at C$2,945,146.23. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company’s stock.
Several large investors have recently modified their holdings of RMD. Citigroup Inc. boosted its stake in shares of ResMed by 2.8% in the second quarter. Citigroup Inc. now owns 1,572 shares of the company’s stock worth $100,000 after buying an additional 43 shares in the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in shares of ResMed by 102.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,692 shares of the company’s stock valued at $107,000 after buying an additional 857 shares during the period. Sei Investments Co. boosted its stake in shares of ResMed by 35.4% in the second quarter. Sei Investments Co. now owns 1,722 shares of the company’s stock valued at $109,000 after buying an additional 450 shares during the period. Meeder Asset Management Inc. acquired a new stake in shares of ResMed during the third quarter valued at approximately $147,000. Finally, Glenmede Trust Co. NA boosted its stake in shares of ResMed by 7.3% in the second quarter. Glenmede Trust Co. NA now owns 2,625 shares of the company’s stock valued at $165,000 after buying an additional 179 shares during the period. Institutional investors and hedge funds own 60.76% of the company’s stock.
ResMed Company Profile