ResMed’s (NYSE:RMD) Sell Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their sell rating on shares of ResMed Inc. (NYSE:RMD) in a report published on Friday, September 8th.

RMD has been the topic of a number of other reports. Zacks Investment Research raised shares of ResMed from a hold rating to a buy rating and set a $87.00 price objective on the stock in a report on Thursday, July 6th. Citigroup Inc. upgraded shares of ResMed from a neutral rating to a buy rating in a research report on Wednesday, August 2nd. BMO Capital Markets restated a hold rating on shares of ResMed in a research report on Friday, May 12th. Credit Suisse Group downgraded shares of ResMed from an outperform rating to a neutral rating in a research report on Wednesday, August 2nd. Finally, BidaskClub upgraded shares of ResMed from a buy rating to a strong-buy rating in a research report on Saturday, June 17th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $67.86.

Shares of ResMed (NYSE:RMD) traded down 1.64% during trading on Friday, reaching $79.23. The company’s stock had a trading volume of 1,256,644 shares. ResMed has a 12-month low of $56.59 and a 12-month high of $81.87. The stock has a market cap of $11.27 billion, a P/E ratio of 33.01 and a beta of 0.79. The stock’s 50-day moving average is $75.78 and its 200-day moving average is $73.35.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Tuesday, August 1st. The medical equipment provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.02. The firm had revenue of $556.69 million for the quarter, compared to analyst estimates of $557.68 million. ResMed had a net margin of 16.56% and a return on equity of 21.99%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 earnings per share. Equities research analysts anticipate that ResMed will post $3.03 earnings per share for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 17th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 1.77%. The ex-dividend date of this dividend is Tuesday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.33. ResMed’s dividend payout ratio is 58.09%.

In related news, CFO Brett Sandercock sold 1,250 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $77.44, for a total transaction of $96,800.00. Following the completion of the sale, the chief financial officer now owns 60,508 shares of the company’s stock, valued at approximately $4,685,739.52. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Peter C. Farrell sold 20,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $76.74, for a total transaction of $1,534,800.00. Following the sale, the director now directly owns 314,800 shares of the company’s stock, valued at approximately $24,157,752. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,259 shares of company stock valued at $13,782,318. Insiders own 1.97% of the company’s stock.

Several institutional investors have recently bought and sold shares of RMD. Toronto Dominion Bank grew its stake in shares of ResMed by 26.6% in the 1st quarter. Toronto Dominion Bank now owns 1,543 shares of the medical equipment provider’s stock valued at $111,000 after buying an additional 324 shares during the period. YorkBridge Wealth Partners LLC grew its stake in shares of ResMed by 4.9% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 1,476 shares of the medical equipment provider’s stock valued at $115,000 after buying an additional 69 shares during the period. Creative Planning grew its stake in shares of ResMed by 97.1% in the 2nd quarter. Creative Planning now owns 1,671 shares of the medical equipment provider’s stock valued at $130,000 after buying an additional 823 shares during the period. Van ECK Associates Corp grew its stake in shares of ResMed by 7.5% in the 1st quarter. Van ECK Associates Corp now owns 1,945 shares of the medical equipment provider’s stock valued at $140,000 after buying an additional 136 shares during the period. Finally, Huntington National Bank purchased a new stake in shares of ResMed in the 2nd quarter valued at approximately $156,000. 60.25% of the stock is owned by institutional investors and hedge funds.

About ResMed

ResMed Inc is a holding company. The Company is engaged in the development, manufacturing, distribution and marketing of medical devices and cloud-based software applications that diagnose, treat and manage respiratory disorders, including sleep disordered breathing (SDB), chronic obstructive pulmonary disease (COPD), neuromuscular disease and other diseases.

Analyst Recommendations for ResMed (NYSE:RMD)

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