Analysts at JPMorgan Chase & Co. initiated coverage on shares of ResMed Inc. (NYSE:RMD) in a report released on Tuesday. The firm set a “neutral” rating and a $64.00 price target on the stock.
Several other research firms also recently issued reports on RMD. Needham & Company LLC reissued a “sell” rating on shares of ResMed in a research report on Monday, September 12th. Jefferies Group lifted their price target on shares of ResMed from $56.00 to $60.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Northland Securities set a $50.00 price target on shares of ResMed and gave the company a “sell” rating in a research report on Monday, August 29th. Bank of America Corp. reissued a “hold” rating and issued a $65.00 price target on shares of ResMed in a research report on Sunday, July 10th. Finally, Zacks Investment Research downgraded shares of ResMed from a “hold” rating to a “sell” rating in a research report on Friday, July 8th. Five analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the stock. ResMed presently has a consensus rating of “Hold” and an average target price of C$60.10.
ResMed (NYSE:RMD) traded down 0.88% during trading on Tuesday, hitting $63.93. 1,240,322 shares of the company’s stock traded hands. The company has a market cap of $8.99 billion, a PE ratio of 25.67 and a beta of 0.68. ResMed has a 52-week low of $50.77 and a 52-week high of $70.90. The company’s 50 day moving average price is $65.76 and its 200 day moving average price is $62.49.
ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. The company earned $518.60 million during the quarter, compared to the consensus estimate of $512.37 million. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The company’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.68 EPS. Analysts expect that ResMed will post $2.88 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 18th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Tuesday, August 16th. This is an increase from ResMed’s previous quarterly dividend of $0.30. ResMed’s dividend payout ratio (DPR) is 54.32%.
In other ResMed news, Director Richard Sulpizio sold 36,000 shares of the 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 completion of the transaction, the director now owns 101,887 shares in the company, valued at C$7,147,373.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Peter C. Farrell sold 20,000 shares of the stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of C$64.70, for a total transaction of C$1,294,000.00. Following the transaction, the director now owns 364,063 shares of the company’s stock, valued at approximately C$23,554,876.10. The disclosure for this sale can be found here. Corporate insiders own 1.97% of the company’s stock.
A number of institutional investors have recently modified their holdings of the company. Aperio Group LLC raised its position in shares of ResMed by 27.7% in the first quarter. Aperio Group LLC now owns 35,053 shares of the company’s stock worth $2,027,000 after buying an additional 7,597 shares in the last quarter. Virginia Retirement System acquired a new position in shares of ResMed during the first quarter worth $622,000. CIBC World Markets Inc. acquired a new position in shares of ResMed during the first quarter worth $264,000. Ngam Advisors L.P. acquired a new position in shares of ResMed during the first quarter worth $1,080,000. Finally, TIAA CREF Investment Management LLC raised its position in shares of ResMed by 34.0% in the first quarter. TIAA CREF Investment Management LLC now owns 650,942 shares of the company’s stock worth $37,637,000 after buying an additional 165,025 shares in the last quarter. Hedge funds and other institutional investors own 61.07% of the company’s stock.