ResMed (NYSE:RMD) Stock Rating Upgraded by Baird R W

Baird R W upgraded shares of ResMed (NYSE:RMD) to a strong-buy rating in a research report report published on Tuesday morning, Zacks.com reports.

RMD has been the subject of a number of other reports. Needham & Company LLC restated a hold rating on shares of ResMed in a research report on Wednesday, September 18th. Royal Bank of Canada raised their price objective on shares of ResMed from $204.00 to $206.00 and gave the company a sector perform rating in a research report on Friday, August 2nd. Oppenheimer lowered shares of ResMed from an outperform rating to a market perform rating in a research report on Tuesday, June 25th. KeyCorp raised their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Finally, StockNews.com lowered shares of ResMed from a buy rating to a hold rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $212.25.

ResMed Price Performance

Shares of NYSE:RMD opened at $242.48 on Tuesday. The company has a quick ratio of 1.69, a current ratio of 2.59 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $35.62 billion, a PE ratio of 37.25, a P/E/G ratio of 2.45 and a beta of 0.69. ResMed has a twelve month low of $132.24 and a twelve month high of $255.18. The company has a 50-day moving average price of $230.00 and a two-hundred day moving average price of $210.84.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the business earned $1.60 earnings per share. The company’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts forecast that ResMed will post 8.92 EPS for the current year.

ResMed Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a dividend yield of 0.87%. ResMed’s dividend payout ratio (DPR) is 32.57%.

Insiders Place Their Bets

In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of ResMed stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the transaction, the insider now directly owns 21,788 shares of the company’s stock, valued at $5,502,777.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at $17,502,383.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,931 shares of company stock valued at $22,644,807. 1.21% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of ResMed by 24.9% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after buying an additional 35,273 shares during the period. Mediolanum International Funds Ltd purchased a new position in shares of ResMed in the first quarter worth $2,246,000. Janney Montgomery Scott LLC increased its stake in shares of ResMed by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock worth $16,102,000 after buying an additional 4,075 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of ResMed by 3,599.0% in the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock worth $98,823,000 after buying an additional 485,540 shares during the period. Finally, Wellington Management Group LLP purchased a new position in shares of ResMed in the fourth quarter worth $7,535,000. 54.98% of the stock is owned by hedge funds and other institutional investors.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.