ResMed (NYSE:RMD) Given “Hold” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of ResMed (NYSE:RMD) in a report released on Wednesday morning, Benzinga reports.

A number of other research firms have also commented on RMD. KeyCorp raised their price objective on ResMed from $238.00 to $251.00 and gave the stock an overweight rating in a research note on Friday, August 2nd. Citigroup cut ResMed from a buy rating to a neutral rating in a research report on Monday, June 24th. Royal Bank of Canada increased their price objective on shares of ResMed from $204.00 to $206.00 and gave the stock a sector perform rating in a research note on Friday, August 2nd. StockNews.com cut shares of ResMed from a buy rating to a hold rating in a research report on Friday, August 30th. Finally, Oppenheimer lowered shares of ResMed from an outperform rating to a market perform rating in a research report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $199.70.

ResMed Trading Up 0.8 %

Shares of ResMed stock opened at $244.90 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The firm has a 50-day moving average of $226.91 and a 200-day moving average of $209.22. ResMed has a 52-week low of $132.24 and a 52-week high of $255.18. The stock has a market cap of $35.98 billion, a PE ratio of 37.62, a PEG ratio of 2.50 and a beta of 0.69.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. As a group, sell-side analysts forecast that ResMed will post 8.92 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.87%. This is a boost from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. ResMed’s dividend payout ratio is currently 32.57%.

Insider Buying and Selling at ResMed

In other news, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $194.35, for a total value of $194,350.00. Following the completion of the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at approximately $17,502,383.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ResMed news, insider Justin Leong sold 48,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brett Sandercock sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the transaction, the chief financial officer now owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The disclosure for this sale can be found here. Insiders have sold 102,931 shares of company stock worth $22,644,807 over the last quarter. Corporate insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

Institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new position in ResMed during the 2nd quarter worth $1,162,000. Dana Investment Advisors Inc. bought a new position in shares of ResMed during the second quarter worth about $4,728,000. Cetera Investment Advisers lifted its stake in shares of ResMed by 26.8% in the second quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock worth $1,861,000 after acquiring an additional 2,053 shares during the period. Greenvale Capital LLP boosted its holdings in ResMed by 61.1% in the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock valued at $138,780,000 after acquiring an additional 275,000 shares during the last quarter. Finally, Quarry LP boosted its holdings in ResMed by 271.9% in the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after acquiring an additional 242 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.