ResMed (NYSE:RMD) Shares Cross Below 200 Day Moving Average – What’s Next?

ResMed Inc. (NYSE:RMD) shares passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $229.69 and traded as low as $228.27. ResMed shares last traded at $228.69, with a volume of 522,842 shares traded.

Analysts Set New Price Targets

RMD has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a report on Friday, October 25th. Royal Bank of Canada increased their price target on shares of ResMed from $224.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, October 25th. Wolfe Research restated an “underperform” rating and issued a $180.00 price target on shares of ResMed in a research note on Wednesday, September 18th. Bank of America lifted their price objective on shares of ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, KeyCorp increased their target price on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average target price of $227.91.

ResMed Stock Performance

The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. The stock has a market cap of $34.01 billion, a price-to-earnings ratio of 30.68, a P/E/G ratio of 1.73 and a beta of 0.68. The stock has a fifty day simple moving average of $241.21 and a two-hundred day simple moving average of $229.68.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.64 earnings per share. Analysts expect that ResMed Inc. will post 9.34 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. ResMed’s payout ratio is presently 28.08%.

Insider Activity

In other ResMed news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the transaction, the director now directly owns 81,218 shares of the company’s stock, valued at approximately $19,951,201.70. The trade was a 2.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $231.91, for a total value of $3,405,134.53. Following the completion of the sale, the chief executive officer now directly owns 464,169 shares of the company’s stock, valued at approximately $107,645,432.79. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,725 shares of company stock worth $10,779,048. Insiders own 0.71% of the company’s stock.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its stake in shares of ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 110 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in ResMed during the third quarter valued at $34,000. Rothschild Investment LLC bought a new stake in shares of ResMed during the 2nd quarter valued at about $44,000. Capital Performance Advisors LLP acquired a new stake in ResMed during the third quarter worth approximately $60,000. Finally, Quest Partners LLC increased its holdings in ResMed by 44.1% in the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock worth $63,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.