ResMed Inc. (NYSE:RMD – Get Rating) has received an average rating of “Buy” from the fifteen analysts that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $267.13.
RMD has been the topic of a number of recent analyst reports. Bank of America raised ResMed from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $239.00 to $250.00 in a research report on Monday, January 24th. StockNews.com started coverage on ResMed in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Wolfe Research started coverage on ResMed in a report on Tuesday, April 5th. They set an “outperform” rating and a $280.00 price objective for the company. Royal Bank of Canada upgraded ResMed from an “underperform” rating to a “sector perform” rating and boosted their price objective for the stock from $234.00 to $241.00 in a report on Friday, January 28th. Finally, Citigroup upgraded ResMed from a “neutral” rating to a “buy” rating in a report on Monday, January 31st.
Shares of NYSE:RMD traded down $1.73 during midday trading on Friday, reaching $232.48. The company had a trading volume of 942 shares, compared to its average volume of 590,840. The business’s 50 day moving average price is $243.82 and its 200 day moving average price is $250.24. The stock has a market cap of $34.00 billion, a PE ratio of 65.97, a P/E/G ratio of 2.36 and a beta of 0.33. The company has a quick ratio of 1.54, a current ratio of 2.49 and a debt-to-equity ratio of 0.21. ResMed has a 1-year low of $187.09 and a 1-year high of $301.34.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 17th. Investors of record on Thursday, February 10th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Wednesday, February 9th. ResMed’s dividend payout ratio (DPR) is currently 47.32%.
In other ResMed news, insider David Pendarvis sold 1,544 shares of the company’s stock in a transaction on Thursday, February 3rd. The stock was sold at an average price of $232.87, for a total transaction of $359,551.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Sandercock sold 2,500 shares of the company’s stock in a transaction on Thursday, February 10th. The stock was sold at an average price of $241.86, for a total value of $604,650.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,613 shares of company stock valued at $10,535,593. 1.42% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Inverness Counsel LLC NY increased its holdings in shares of ResMed by 90.1% during the third quarter. Inverness Counsel LLC NY now owns 3,829 shares of the medical equipment provider’s stock worth $1,009,000 after buying an additional 1,815 shares in the last quarter. Toronto Dominion Bank increased its holdings in shares of ResMed by 24.1% during the third quarter. Toronto Dominion Bank now owns 79,208 shares of the medical equipment provider’s stock worth $20,875,000 after buying an additional 15,407 shares in the last quarter. D Orazio & Associates Inc. acquired a new position in shares of ResMed during the third quarter worth $30,000. Fifth Third Bancorp increased its holdings in shares of ResMed by 11.2% during the fourth quarter. Fifth Third Bancorp now owns 6,231 shares of the medical equipment provider’s stock worth $1,623,000 after buying an additional 626 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of ResMed by 19.5% during the third quarter. O Shaughnessy Asset Management LLC now owns 4,782 shares of the medical equipment provider’s stock worth $1,260,000 after buying an additional 780 shares in the last quarter. Hedge funds and other institutional investors own 63.75% of the company’s stock.
ResMed Company Profile (Get Rating)
ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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.
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