ResMed Inc. (NYSE:RMD) has been assigned an average recommendation of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $72.25.

Several equities research analysts recently issued reports on the stock. Goldman Sachs Group assumed coverage on shares of ResMed in a research note on Sunday, July 1st. They issued a “buy” rating for the company. Zacks Investment Research downgraded shares of ResMed from a “buy” rating to a “hold” rating in a report on Tuesday, June 12th. UBS Group downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Tuesday, April 24th. William Blair reiterated an “outperform” rating on shares of ResMed in a report on Monday, April 16th. Finally, Citigroup downgraded shares of ResMed from a “buy” rating to a “neutral” rating in a report on Wednesday, April 4th.

In other news, insider David Pendarvis sold 2,810 shares of the business’s stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $95.91, for a total transaction of $269,507.10. Following the transaction, the insider now owns 98,043 shares in the company, valued at approximately $9,403,304.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider James Hollingshead sold 600 shares of the business’s stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $94.69, for a total transaction of $56,814.00. Following the transaction, the insider now owns 61,261 shares in the company, valued at approximately $5,800,804.09. The disclosure for this sale can be found here. Insiders sold a total of 70,226 shares of company stock worth $7,041,359 in the last quarter. Insiders own 1.77% of the company’s stock.

Several large investors have recently bought and sold shares of RMD. Millennium Management LLC increased its holdings in shares of ResMed by 2,526.7% during the 1st quarter. Millennium Management LLC now owns 769,536 shares of the medical equipment provider’s stock worth $75,776,000 after purchasing an additional 740,239 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of ResMed by 191.2% during the 1st quarter. JPMorgan Chase & Co. now owns 971,754 shares of the medical equipment provider’s stock worth $95,687,000 after purchasing an additional 638,038 shares during the period. Renaissance Technologies LLC increased its holdings in shares of ResMed by 507.0% during the 4th quarter. Renaissance Technologies LLC now owns 282,234 shares of the medical equipment provider’s stock worth $23,980,000 after purchasing an additional 235,734 shares during the period. Guggenheim Capital LLC increased its holdings in shares of ResMed by 46.4% during the 4th quarter. Guggenheim Capital LLC now owns 722,480 shares of the medical equipment provider’s stock worth $61,184,000 after purchasing an additional 229,030 shares during the period. Finally, Rockefeller Capital Management L.P. bought a new position in shares of ResMed during the 1st quarter worth about $19,458,000. Institutional investors own 62.22% of the company’s stock.

Shares of RMD stock traded up $0.39 on Monday, hitting $107.21. The company’s stock had a trading volume of 23,390 shares, compared to its average volume of 602,770. The company has a current ratio of 3.48, a quick ratio of 2.85 and a debt-to-equity ratio of 0.39. ResMed has a fifty-two week low of $71.29 and a fifty-two week high of $108.29. The firm has a market cap of $15.25 billion, a PE ratio of 38.05 and a beta of 0.90.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, April 26th. The medical equipment provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.07. ResMed had a net margin of 13.52% and a return on equity of 23.72%. The business had revenue of $591.60 million during the quarter, compared to analyst estimates of $575.75 million. During the same quarter in the previous year, the business earned $0.71 EPS. ResMed’s quarterly revenue was up 15.1% compared to the same quarter last year. analysts forecast that ResMed will post 3.5 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, June 14th. Investors of record on Thursday, May 10th were issued a $0.35 dividend. The ex-dividend date was Wednesday, May 9th. This represents a $1.40 annualized dividend and a yield of 1.31%. ResMed’s dividend payout ratio (DPR) is presently 49.65%.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

Analyst Recommendations for ResMed (NYSE:RMD)

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