Robert W. Baird Begins Coverage on ResMed (NYSE:RMD)

Robert W. Baird started coverage on shares of ResMed (NYSE:RMD) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The firm issued an outperform rating and a $280.00 price target on the medical equipment provider’s stock.

RMD has been the subject of several other research reports. Royal Bank of Canada increased their price objective on shares of ResMed from $204.00 to $206.00 and gave the company a sector perform rating in a research note on Friday, August 2nd. KeyCorp increased their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Oppenheimer lowered shares of ResMed from an outperform rating to a market perform rating in a research note on Tuesday, June 25th. StockNews.com lowered shares of ResMed from a buy rating to a hold rating in a research note on Friday, August 30th. Finally, Needham & Company LLC reissued a hold rating on shares of ResMed in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $212.25.

ResMed Trading Up 0.7 %

RMD opened at $242.48 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed has a fifty-two week low of $132.24 and a fifty-two week high of $255.18. The firm has a market capitalization of $35.62 billion, a PE ratio of 37.25, a P/E/G ratio of 2.45 and a beta of 0.69. The company’s 50-day moving average is $229.23 and its 200 day moving average is $210.62.

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

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 15th were issued a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 annualized dividend and a yield of 0.87%. ResMed’s dividend payout ratio (DPR) is 32.57%.

Insider Buying and Selling

In related news, insider Justin Leong sold 48,000 shares of the firm’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 value of $10,419,360.00. Following the completion of the transaction, 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 SEC, which can be accessed through this link. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the sale, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Justin Leong sold 48,000 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the completion of the sale, the insider now owns 18,741 shares in the company, valued at $4,068,108.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,931 shares of company stock valued at $22,644,807. Company insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

Several institutional investors and hedge funds have recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC lifted its stake in ResMed by 3.7% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock worth $292,000 after purchasing an additional 52 shares in the last quarter. QRG Capital Management Inc. lifted its stake in ResMed by 4.5% in the 2nd quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock worth $247,000 after purchasing an additional 56 shares in the last quarter. Inspire Advisors LLC lifted its stake in ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after purchasing an additional 56 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in ResMed by 1.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after purchasing an additional 60 shares in the last quarter. Finally, Gulf International Bank UK Ltd lifted its stake in ResMed by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after purchasing an additional 66 shares in the last quarter. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

About ResMed

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.