ResMed Inc. (NYSE:RMD) had its target price raised by Barclays PLC from $55.00 to $60.00 in a report issued on Tuesday morning. The firm currently has an underweight rating on the stock.
Several other equities research analysts have also commented on RMD. Jefferies Group LLC cut their price objective on ResMed to $56.00 in a research note on Wednesday, October 26th. Canaccord Genuity restated a hold rating and set a $59.00 target price (up from $55.00) on shares of ResMed in a report on Monday. Zacks Investment Research cut ResMed from a hold rating to a sell rating in a report on Wednesday, December 28th. J P Morgan Chase & Co initiated coverage on ResMed in a report on Tuesday, October 4th. They set a neutral rating and a $64.00 target price on the stock. Finally, Bank of America Corporation upgraded ResMed from a neutral rating to a buy rating and lowered their target price for the stock from $89.00 to $72.00 in a report on Thursday, September 29th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $61.33.
ResMed (NYSE:RMD) traded up 0.46% on Tuesday, reaching $70.04. The company’s stock had a trading volume of 287,109 shares. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 28.59 and a beta of 0.88. The company has a 50 day moving average of $62.75 and a 200 day moving average of $63.92. ResMed has a 52 week low of $55.13 and a 52 week high of $70.90.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Monday, January 23rd. The company reported $0.73 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.03. ResMed had a return on equity of 22.80% and a net margin of 16.48%. The company earned $530.40 million during the quarter, compared to analyst estimates of $518.60 million. During the same period in the previous year, the business earned $0.69 EPS. ResMed’s quarterly revenue was up 16.7% on a year-over-year basis. On average, analysts forecast that ResMed will post $2.77 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 16th. Shareholders of record on Thursday, February 9th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Tuesday, February 7th. ResMed’s payout ratio is 57.39%.
In other ResMed news, insider James Hollingshead sold 7,084 shares of the business’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $64.44, for a total value of $456,492.96. Following the sale, the insider now owns 46,754 shares of the company’s stock, valued at $3,012,827.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter C. Farrell sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $57.28, for a total value of $1,145,600.00. Following the completion of the sale, the director now directly owns 367,978 shares in the company, valued at approximately $21,077,779.84. The disclosure for this sale can be found here. In the last three months, insiders sold 85,847 shares of company stock worth $5,166,352. 1.97% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Carnegie Capital Asset Management LLC raised its stake in ResMed by 4.2% in the second quarter. Carnegie Capital Asset Management LLC now owns 8,600 shares of the company’s stock worth $561,000 after buying an additional 345 shares in the last quarter. Wright Investors Service Inc. bought a new stake in ResMed during the second quarter worth $233,000. Veritas Asset Management LLP bought a new stake in ResMed during the second quarter worth $6,323,000. North Star Asset Management Inc. raised its stake in ResMed by 2.1% in the second quarter. North Star Asset Management Inc. now owns 46,446 shares of the company’s stock worth $2,937,000 after buying an additional 935 shares in the last quarter. Finally, American Research & Management Co. raised its stake in ResMed by 56.1% in the second quarter. American Research & Management Co. now owns 4,590 shares of the company’s stock worth $290,000 after buying an additional 1,650 shares in the last quarter. 62.96% of the stock is currently owned by institutional investors.
ResMed Company Profile
ResMed Inc is a holding company. The Company, through its subsidiaries, designs, manufactures and markets equipment for the diagnosis and treatment of sleep-disordered breathing and other respiratory disorders, including obstructive sleep apnea. The Company develops a range of products for sleep-disordered breathing and other respiratory disorders, including airdevices, informatics solutions, diagnostic products, mask systems, headgear and other accessories.