ResMed (NYSE:RMD) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of ResMed (NYSE:RMD) from a hold rating to a buy rating in a research note issued to investors on Tuesday morning.

Several other research firms have also issued reports on RMD. Wolfe Research restated an underperform rating and issued a $180.00 price target on shares of ResMed in a research report on Wednesday, September 18th. Robert W. Baird started coverage on ResMed in a research report on Tuesday, September 24th. They issued an outperform rating and a $280.00 price target on the stock. Citigroup lowered ResMed from a buy rating to a neutral rating in a research report on Monday, June 24th. Oppenheimer lowered ResMed from an outperform rating to a market perform rating in a research report on Tuesday, June 25th. Finally, Royal Bank of Canada lifted their target price on ResMed from $206.00 to $224.00 and gave the stock a sector perform rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, ResMed has a consensus rating of Moderate Buy and a consensus target price of $218.18.

ResMed Stock Down 0.6 %

NYSE RMD opened at $239.18 on Tuesday. The stock has a fifty day moving average of $237.25 and a 200-day moving average of $215.20. The stock has a market capitalization of $35.14 billion, a P/E ratio of 36.74, a price-to-earnings-growth ratio of 2.14 and a beta of 0.69. ResMed has a 52 week low of $132.24 and a 52 week high of $255.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59.

ResMed (NYSE:RMD) last released its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities research analysts forecast that ResMed will post 9.02 EPS for the current year.

ResMed Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.89%. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s payout ratio is 32.57%.

Insider Activity

In other news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $212.16, for a total value of $212,160.00. Following the sale, the chief financial officer now directly owns 89,056 shares in the company, valued at $18,894,120.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Brett Sandercock sold 1,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $212.16, for a total value of $212,160.00. Following the sale, the chief financial officer now directly owns 89,056 shares in the company, valued at $18,894,120.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kaushik Ghoshal sold 4,260 shares of the business’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $238.48, for a total value of $1,015,924.80. Following the completion of the sale, the insider now owns 21,788 shares in the company, valued at approximately $5,196,002.24. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 123,874 shares of company stock worth $28,151,142 over the last three months. Corporate insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

Hedge funds and other institutional investors have recently modified their holdings of the stock. OFI Invest Asset Management acquired a new stake in shares of ResMed in the second quarter valued at about $32,000. BOK Financial Private Wealth Inc. acquired a new stake in shares of ResMed in the first quarter valued at about $35,000. Versant Capital Management Inc increased its position in shares of ResMed by 196.7% in the second quarter. Versant Capital Management Inc now owns 181 shares of the medical equipment provider’s stock valued at $35,000 after acquiring an additional 120 shares during the last quarter. Financial Connections Group Inc. acquired a new stake in shares of ResMed in the second quarter valued at about $37,000. Finally, Riverview Trust Co acquired a new stake in shares of ResMed in the first quarter valued at about $42,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

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.