ResMed (NYSE:RMD) Sees Strong Trading Volume

ResMed Inc. (NYSE:RMD) shares saw unusually-high trading volume on Wednesday . Approximately 2,218,542 shares were traded during mid-day trading, an increase of 125% from the previous session’s volume of 986,227 shares.The stock last traded at $173.08 and had previously closed at $184.86.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RMD. JPMorgan Chase & Co. lifted their target price on shares of ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. UBS Group lifted their target price on shares of ResMed from $175.00 to $180.00 and gave the company a “neutral” rating in a research report on Thursday, January 25th. KeyCorp began coverage on shares of ResMed in a research report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 target price on the stock. Needham & Company LLC lifted their target price on shares of ResMed from $215.00 to $224.00 and gave the company a “buy” rating in a research report on Monday, April 1st. Finally, Mizuho reiterated a “buy” rating and set a $215.00 target price on shares of ResMed in a research report on Wednesday, March 27th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $199.20.

ResMed Stock Performance

The company has a market capitalization of $25.57 billion, a P/E ratio of 28.62, a P/E/G ratio of 2.29 and a beta of 0.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The stock’s 50 day simple moving average is $186.67 and its two-hundred day simple moving average is $170.14.

ResMed (NYSE:RMD) last announced its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.07. ResMed had a net margin of 19.77% and a return on equity of 23.86%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. The company’s revenue was up 12.5% on a year-over-year basis. As a group, research analysts expect that ResMed Inc. will post 7.46 earnings per share for the current year.

ResMed Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Thursday, February 8th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is 31.74%.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the transaction, the director now owns 157,404 shares in the company, valued at $28,751,414.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Michael J. Rider sold 200 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $173.25, for a total transaction of $34,650.00. Following the transaction, the general counsel now owns 6,688 shares of the company’s stock, valued at approximately $1,158,696. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock valued at $2,046,617 over the last ninety days. Insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in ResMed during the fourth quarter worth $233,966,000. Morgan Stanley lifted its stake in ResMed by 102.4% in the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after acquiring an additional 1,178,547 shares during the last quarter. LGT Capital Partners LTD. acquired a new stake in ResMed in the fourth quarter valued at $117,621,000. FIL Ltd lifted its stake in ResMed by 245.9% in the fourth quarter. FIL Ltd now owns 840,030 shares of the medical equipment provider’s stock valued at $144,502,000 after acquiring an additional 597,165 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in 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 valued at $98,823,000 after acquiring an additional 485,540 shares during the last quarter. 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.