ResMed Inc. (RMD) Trading 1.4% Higher
ResMed Inc. (NYSE:RMD) shares traded up 1.4% during trading on Wednesday . The stock traded as high as $64.95 and last traded at $64.91, with a volume of 240,358 shares traded. The stock had previously closed at $64.02.
Several research analysts have recently commented on the company. Citigroup Inc. raised ResMed from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 27th. Piper Jaffray Cos. downgraded ResMed from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $65.00 to $57.00 in a research note on Wednesday, April 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of ResMed in a research note on Wednesday, April 27th. Canaccord Genuity reaffirmed a “hold” rating on shares of ResMed in a research note on Wednesday, April 27th. Finally, BMO Capital Markets reaffirmed a “hold” rating on shares of ResMed in a research note on Wednesday, April 27th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of C$59.69.
The company has a 50-day moving average price of $61.15 and a 200 day moving average price of $58.11. The company has a market capitalization of $9.12 billion and a PE ratio of 26.621.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Tuesday, April 26th. The company reported $0.68 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.01. The business earned $453.90 million during the quarter, compared to the consensus estimate of $455.32 million. ResMed’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.65 EPS. On average, equities analysts forecast that ResMed Inc. will post $2.66 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Thursday, May 19th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date of this dividend was Tuesday, May 17th.
In other ResMed news, insider David Pendarvis sold 6,000 shares of the firm’s stock in a transaction on Tuesday, May 3rd. The stock was sold at an average price of C$56.02, for a total value of C$336,120.00. Following the sale, the insider now directly owns 80,287 shares in the company, valued at C$4,497,677.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Peter C. Farrell sold 20,000 shares of the firm’s stock in a transaction on Wednesday, May 4th. The shares were sold at an average price of C$55.90, for a total value of C$1,118,000.00. Following the completion of the sale, the director now owns 367,978 shares in the company, valued at C$20,569,970.20. The disclosure for this sale can be found here.
A number of hedge funds have bought and sold shares of RMD. Advisors Asset Management Inc. boosted its stake in ResMed by 370.0% in the fourth quarter. Advisors Asset Management Inc. now owns 20,878 shares of the company’s stock worth $1,121,000 after buying an additional 16,436 shares in the last quarter. Marshall Wace LLP acquired a new stake in ResMed during the fourth quarter worth $1,133,000. Sawtooth Asset Management Inc. acquired a new stake in ResMed during the fourth quarter worth $1,175,000. Profund Advisors LLC boosted its stake in ResMed by 39.8% in the fourth quarter. Profund Advisors LLC now owns 25,100 shares of the company’s stock worth $1,348,000 after buying an additional 7,145 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in ResMed by 25.5% in the fourth quarter. Great West Life Assurance Co. Can now owns 32,989 shares of the company’s stock worth $1,771,000 after buying an additional 6,708 shares in the last quarter.
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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