JPMorgan Chase & Co. lowered shares of ResMed Inc. (NYSE:RMD) from an overweight rating to a neutral rating in a report published on Monday.

Analyst Recommendations for ResMed (NYSE:RMD)

Several other equities analysts have also commented on RMD. Canaccord Genuity reaffirmed a hold rating and set a $57.00 price target on shares of ResMed in a research report on Monday, July 25th. Jefferies Group increased their price objective on shares of ResMed from $56.00 to $60.00 and gave the stock a hold rating in a research report on Friday, July 29th. Zacks Investment Research lowered shares of ResMed from a hold rating to a sell rating in a research report on Friday, July 8th. Needham & Company LLC reissued an underperform rating on shares of ResMed in a research report on Tuesday, August 30th. Finally, Northland Securities set a $50.00 price objective on shares of ResMed and gave the stock a sell rating in a research report on Monday, August 29th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Hold and a consensus target price of C$58.60.

Shares of ResMed (NYSE:RMD) opened at 63.73 on Monday. ResMed has a 52 week low of $49.11 and a 52 week high of $70.90. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 25.59 and a beta of 0.71. The company’s 50-day moving average is $68.05 and its 200 day moving average is $61.93.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, hitting the consensus estimate of $0.74. ResMed had a net margin of 18.63% and a return on equity of 23.89%. The firm earned $518.60 million during the quarter, compared to analyst estimates of $512.37 million. During the same quarter in the prior year, the business posted $0.68 earnings per share. ResMed’s revenue for the quarter was up 14.5% compared to the same quarter last year. Analysts anticipate that ResMed will post $2.88 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, August 18th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.07%. This is an increase from ResMed’s previous quarterly dividend of $0.30. The ex-dividend date is Tuesday, August 16th. ResMed’s dividend payout ratio is 54.32%.

In other news, CFO Brett Sandercock sold 35,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of C$70.50, for a total value of C$2,467,500.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David Pendarvis sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of C$63.62, for a total transaction of C$381,720.00. Following the completion of the transaction, the insider now owns 80,512 shares in the company, valued at C$5,122,173.44. The disclosure for this sale can be found here. Company insiders own 2.54% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. increased its position in ResMed by 2.8% in the second quarter. Citigroup Inc. now owns 1,572 shares of the company’s stock worth $100,000 after buying an additional 43 shares during the last quarter. Mizuho Asset Management Co. Ltd. increased its position in ResMed by 102.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,692 shares of the company’s stock worth $107,000 after buying an additional 857 shares during the last quarter. Sei Investments Co. increased its position in ResMed by 35.4% in the second quarter. Sei Investments Co. now owns 1,722 shares of the company’s stock worth $109,000 after buying an additional 450 shares during the last quarter. Glenmede Trust Co. NA increased its position in ResMed by 7.3% in the second quarter. Glenmede Trust Co. NA now owns 2,625 shares of the company’s stock worth $165,000 after buying an additional 179 shares during the last quarter. Finally, Pacer Advisors Inc. increased its position in ResMed by 18.9% in the second quarter. Pacer Advisors Inc. now owns 2,656 shares of the company’s stock worth $168,000 after buying an additional 422 shares during the last quarter. Institutional investors own 61.11% of the company’s stock.

ResMed Company Profile

ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.

5 Day Chart for NYSE:RMD

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