ResMed Inc. (RMD) Shares Down 1.5%
ResMed Inc. (NYSE:RMD) dropped 1.5% during trading on Monday . The stock traded as low as $65.65 and last traded at $67.98, with a volume of 917,876 shares traded. The stock had previously closed at $69.03.
RMD has been the subject of a number of recent research reports. Bank of America Corp. reiterated a “hold” rating and issued a $65.00 target price on shares of ResMed in a research note on Sunday, July 10th. Zacks Investment Research upgraded ResMed from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Needham & Company LLC lowered ResMed from a “hold” rating to an “underperform” rating in a research note on Monday, June 27th. Jefferies Group lowered ResMed from a “hold” rating to an “underperform” rating and lowered their target price for the company from $60.00 to $58.00 in a research note on Tuesday, August 23rd. Finally, Barclays PLC reiterated an “underweight” rating and issued a $55.00 target price on shares of ResMed in a research note on Friday, August 26th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of C$58.60.
The stock has a market cap of $9.43 billion and a P/E ratio of 26.9247. The company has a 50-day moving average price of $67.88 and a 200-day moving average price of $61.20.
ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.74 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.74. The firm had revenue of $518.60 million for the quarter, compared to analyst estimates of $512.37 million. During the same period in the previous year, the business posted $0.68 EPS. ResMed’s revenue for the quarter was up 14.5% on a year-over-year basis. On average, analysts expect that ResMed Inc. will post $2.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, August 18th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Tuesday, August 16th. This is a boost from ResMed’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 1.96%.
In other ResMed news, Director Richard Sulpizio sold 36,000 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of C$70.15, for a total value of C$2,525,400.00. Following the completion of the sale, the director now owns 101,887 shares of the company’s stock, valued at C$7,147,373.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronald R. Taylor purchased 2,487 shares of ResMed stock in a transaction on Wednesday, August 17th. The stock was bought at an average cost of C$69.13 per share, with a total value of C$171,926.31. Following the transaction, the director now directly owns 16,729 shares of the company’s stock, valued at C$1,156,475.77. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in ResMed stock. KBC Group NV increased its position in ResMed Inc. (NYSE:RMD) by 36.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,904 shares of the company’s stock after buying an additional 11,795 shares during the period. KBC Group NV’s holdings in ResMed were worth $2,357,000 as of its most recent SEC filing.
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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