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.
TRADEMARK VIOLATION NOTICE: “ResMed’s (NYSE:RMD) Sell Rating Reiterated at Needham & Company LLC” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://ledgergazette.com/2017/09/16/resmeds-rmd-sell-rating-reaffirmed-at-needham-company-llc.html.
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.
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.
Receive News & Ratings for ResMed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ResMed Inc. and related companies with MarketBeat.com's FREE daily email newsletter.