ResMed (NYSE:RMD) Now Covered by Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of ResMed (NYSE:RMD) in a report issued on Friday, MarketBeat Ratings reports. The firm issued a hold rating and a $250.00 price objective on the medical equipment provider’s stock.

Several other analysts also recently commented on the stock. Robert W. Baird upped their price objective on shares of ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of ResMed in a research report on Friday, October 25th. Baird R W raised ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Wolfe Research reiterated an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Finally, StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ResMed presently has a consensus rating of “Moderate Buy” and a consensus target price of $227.91.

ResMed Price Performance

NYSE RMD opened at $238.52 on Friday. The company has a market cap of $35.01 billion, a price-to-earnings ratio of 31.59, a PEG ratio of 1.78 and a beta of 0.68. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.92 and a quick ratio of 1.91. The stock’s fifty day moving average price is $242.75 and its 200 day moving average price is $227.45. ResMed has a 1 year low of $164.12 and a 1 year high of $260.49.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. ResMed had a return on equity of 25.53% and a net margin of 23.15%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the business posted $1.64 earnings per share. As a group, equities research analysts forecast that ResMed will post 9.34 earnings per share for the current year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.89%. The ex-dividend date was Thursday, November 7th. ResMed’s payout ratio is currently 28.08%.

Insider Activity at ResMed

In other news, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total value of $491,300.00. Following the sale, the director now directly owns 81,218 shares of the company’s stock, valued at $19,951,201.70. The trade was a 2.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Witte Jan De sold 796 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This represents a 10.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,725 shares of company stock valued at $11,253,448. 0.71% of the stock is owned by company insiders.

Institutional Investors Weigh In On ResMed

Large investors have recently modified their holdings of the business. True Wealth Design LLC lifted its stake in shares of ResMed by 2,200.0% in the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares in the last quarter. OFI Invest Asset Management acquired a new stake in ResMed in the 2nd quarter valued at about $32,000. Ashton Thomas Securities LLC purchased a new position in ResMed in the 3rd quarter worth approximately $34,000. Financial Connections Group Inc. acquired a new position in shares of ResMed during the 2nd quarter worth approximately $37,000. Finally, Blue Trust Inc. grew its position in shares of ResMed by 182.7% in the second quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock valued at $42,000 after purchasing an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

About ResMed

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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.