Analysts Set ResMed Inc. (NYSE:RMD) PT at $58.63
Shares of ResMed Inc. (NYSE:RMD) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are presently covering the company. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is C$59.00.
A number of research firms have 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 upped their price target on ResMed from $56.00 to $60.00 and gave the company a “hold” rating in a research report on Friday, July 29th. Needham & Company LLC reaffirmed an “underperform” rating on shares of ResMed in a research report on Tuesday, August 30th. Bank of America Corp. reaffirmed a “hold” rating and set a $65.00 price target on shares of ResMed in a research report on Sunday, July 10th. Finally, Zacks Investment Research raised ResMed from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th.
In other ResMed news, insider David Pendarvis sold 6,000 shares of the stock in a transaction on Monday, October 3rd. The stock was sold at an average price of C$63.95, for a total transaction of C$383,700.00. Following the sale, the insider now directly owns 87,061 shares in the company, valued at approximately C$5,567,550.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James Hollingshead sold 2,753 shares of the stock in a transaction on Thursday, July 14th. The shares were sold at an average price of C$65.02, for a total value of C$179,000.06. Following the sale, the insider now owns 40,669 shares in the company, valued at C$2,644,298.38. The disclosure for this sale can be found here. Company insiders own 1.97% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services Inc increased its stake in shares of ResMed by 0.3% in the second quarter. Commonwealth Equity Services Inc now owns 5,377 shares of the company’s stock valued at $340,000 after buying an additional 18 shares in the last quarter. Citigroup Inc. increased its stake in shares of ResMed by 2.8% in the second quarter. Citigroup Inc. now owns 1,572 shares of the company’s stock valued at $100,000 after buying an additional 43 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of ResMed by 0.3% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 24,240 shares of the company’s stock valued at $1,533,000 after buying an additional 79 shares in the last quarter. World Asset Management Inc increased its stake in shares of ResMed by 1.2% in the second quarter. World Asset Management Inc now owns 7,346 shares of the company’s stock valued at $464,000 after buying an additional 85 shares in the last quarter. Finally, Utah Retirement Systems increased its stake in shares of ResMed by 0.4% in the second quarter. Utah Retirement Systems now owns 25,383 shares of the company’s stock valued at $1,605,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 61.07% of the company’s stock.
Shares of ResMed (NYSE:RMD) opened at 63.93 on Tuesday. The company has a market capitalization of $8.99 billion, a price-to-earnings ratio of 25.67 and a beta of 0.68. The company’s 50-day moving average price is $65.76 and its 200-day moving average price is $62.49. ResMed has a one year low of $50.77 and a one year high of $70.90.
ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.74 EPS for the quarter, meeting analysts’ consensus estimates of $0.74. The business earned $518.60 million during the quarter, compared to analyst estimates of $512.37 million. ResMed had a return on equity of 23.89% and a net margin of 18.63%. ResMed’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.68 EPS. On average, equities research analysts predict that ResMed will post $2.88 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 18th were paid a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.32 annualized dividend and a dividend yield of 2.06%. This is an increase from ResMed’s previous quarterly dividend of $0.30. ResMed’s dividend payout ratio is presently 54.32%.
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.
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