ResMed (RMD) Upgraded by ValuEngine to “Buy”
ValuEngine upgraded shares of ResMed (NYSE:RMD) from a hold rating to a buy rating in a research report sent to investors on Thursday morning.
A number of other analysts also recently issued reports on RMD. Zacks Investment Research raised ResMed from a hold rating to a buy rating and set a $107.00 target price for the company in a research note on Wednesday. Needham & Company LLC raised ResMed from an underperform rating to a hold rating in a research note on Tuesday, January 23rd. Northland Securities raised ResMed from an under perform rating to a market perform rating in a research note on Tuesday, January 23rd. BMO Capital Markets raised their target price on ResMed to $90.00 and gave the stock a market perform rating in a research note on Tuesday, January 23rd. Finally, Macquarie downgraded ResMed from a neutral rating to a sell rating in a research note on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $75.17.
Shares of ResMed (NYSE RMD) opened at $94.92 on Thursday. ResMed has a 52 week low of $67.04 and a 52 week high of $104.78. The stock has a market capitalization of $13,566.63, a price-to-earnings ratio of 47.46 and a beta of 0.94.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Thursday, February 8th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Wednesday, February 7th. ResMed’s dividend payout ratio is presently 70.00%.
In other news, Director John P. Wareham sold 25,934 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $102.25, for a total transaction of $2,651,751.50. Following the completion of the transaction, the director now directly owns 38,934 shares in the company, valued at approximately $3,981,001.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider James Hollingshead sold 600 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $94.01, for a total value of $56,406.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,133 shares of company stock valued at $4,370,554. Company insiders own 1.77% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMD. Dimensional Fund Advisors LP grew its holdings in shares of ResMed by 0.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 379,317 shares of the medical equipment provider’s stock worth $29,535,000 after purchasing an additional 2,530 shares during the period. Pictet Asset Management Ltd. boosted its holdings in ResMed by 30.4% during the 3rd quarter. Pictet Asset Management Ltd. now owns 90,100 shares of the medical equipment provider’s stock valued at $6,934,000 after acquiring an additional 21,000 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in ResMed by 4.1% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 48,986 shares of the medical equipment provider’s stock valued at $3,770,000 after acquiring an additional 1,930 shares during the period. Victory Capital Management Inc. boosted its holdings in ResMed by 8.2% during the 3rd quarter. Victory Capital Management Inc. now owns 23,372 shares of the medical equipment provider’s stock valued at $1,799,000 after acquiring an additional 1,775 shares during the period. Finally, New York State Teachers Retirement System boosted its holdings in ResMed by 3.7% during the 3rd quarter. New York State Teachers Retirement System now owns 229,705 shares of the medical equipment provider’s stock valued at $17,678,000 after acquiring an additional 8,217 shares during the period. Institutional investors and hedge funds own 60.46% of the company’s stock.
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ResMed Company Profile
ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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