ResMed Inc. (RMD) Receives Consensus Recommendation of “Hold” from Analysts
ResMed Inc. (NYSE:RMD) has earned an average rating of “Hold” from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $61.00.
RMD has been the topic of a number of research analyst reports. BidaskClub cut ResMed from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Zacks Investment Research upgraded ResMed from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a report on Thursday, July 6th. Citigroup Inc. upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Wednesday, August 2nd. BMO Capital Markets restated a “hold” rating on shares of ResMed in a report on Friday, May 12th. Finally, Credit Suisse Group cut ResMed from an “outperform” rating to a “neutral” rating in a report on Wednesday, August 2nd.
In other news, insider Jr. Gregor K. Emmert bought 424,000 shares of the stock in a transaction dated Wednesday, June 28th. The shares were bought at an average cost of $0.06 per share, with a total value of $25,440.00. Also, Director Richard Sulpizio sold 65,887 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $77.82, for a total value of $5,127,326.34. Following the transaction, the director now directly owns 4,429 shares in the company, valued at $344,664.78. The disclosure for this sale can be found here. Insiders have sold 204,650 shares of company stock worth $15,516,845 over the last ninety days. 1.97% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the company. Gulf International Bank UK Ltd raised its position in shares of ResMed by 1.8% in the first quarter. Gulf International Bank UK Ltd now owns 42,044 shares of the medical equipment provider’s stock worth $3,025,000 after buying an additional 725 shares during the last quarter. National Pension Service raised its position in shares of ResMed by 37,521.7% in the first quarter. National Pension Service now owns 140,329 shares of the medical equipment provider’s stock worth $10,036,000 after buying an additional 139,956 shares during the last quarter. Bank of Montreal Can raised its position in shares of ResMed by 21.2% in the first quarter. Bank of Montreal Can now owns 175,344 shares of the medical equipment provider’s stock worth $12,619,000 after buying an additional 30,703 shares during the last quarter. Atria Investments LLC raised its position in shares of ResMed by 1.9% in the first quarter. Atria Investments LLC now owns 4,564 shares of the medical equipment provider’s stock worth $328,000 after buying an additional 83 shares during the last quarter. Finally, Fox Run Management L.L.C. raised its position in shares of ResMed by 19.7% in the first quarter. Fox Run Management L.L.C. now owns 7,900 shares of the medical equipment provider’s stock worth $569,000 after buying an additional 1,300 shares during the last quarter. 60.66% of the stock is currently owned by institutional investors.
ResMed (RMD) traded up 0.38% on Friday, reaching $73.07. 529,536 shares of the company traded hands. The firm has a 50 day moving average of $75.98 and a 200-day moving average of $72.38. ResMed has a one year low of $56.59 and a one year high of $79.63. The stock has a market capitalization of $10.39 billion, a PE ratio of 30.45 and a beta of 0.83.
ResMed (NYSE:RMD) last announced its earnings results on Tuesday, August 1st. The medical equipment provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.02. ResMed had a return on equity of 21.99% and a net margin of 16.56%. The business had revenue of $556.69 million for the quarter, compared to analysts’ expectations of $557.68 million. During the same period in the prior year, the business posted $0.74 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis. On average, analysts anticipate that ResMed will post $3.03 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 17th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.92%. This is a positive change from ResMed’s previous quarterly dividend of $0.33. The ex-dividend date is Tuesday, August 15th. ResMed’s dividend payout ratio is presently 58.09%.
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
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