ResMed (NYSE:RMD) Now Covered by Stifel Nicolaus

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

A number of other analysts have also recently issued reports on the stock. KeyCorp increased their price objective on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Bank of America increased their price target on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. StockNews.com upgraded ResMed from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird increased their target price on ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Wolfe Research reissued an “underperform” rating and issued a $180.00 price target on shares of ResMed in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $227.91.

ResMed Stock Down 1.6 %

Shares of RMD stock opened at $238.52 on Friday. The company has a 50 day simple moving average of $242.75 and a two-hundred day simple moving average of $227.45. The stock has a market cap of $35.01 billion, a P/E ratio of 31.59, a P/E/G ratio of 1.78 and a beta of 0.68. ResMed has a 12 month low of $164.12 and a 12 month high of $260.49. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

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

ResMed Dividend Announcement

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

Insiders Place Their Bets

In other ResMed news, Director Witte Jan De sold 796 shares of the business’s stock in a transaction dated 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 sale, the director now directly owns 6,723 shares of the company’s stock, valued at $1,672,749.63. The trade was a 10.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $237.20, for a total value of $474,400.00. Following the completion of the sale, the director now owns 85,204 shares of the company’s stock, valued at $20,210,388.80. The trade was a 2.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,725 shares of company stock valued at $11,253,448 over the last 90 days. Insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of hedge funds and other institutional investors have recently modified their holdings of the business. UMB Bank n.a. increased its holdings in shares of ResMed by 1.9% in the 3rd quarter. UMB Bank n.a. now owns 2,465 shares of the medical equipment provider’s stock valued at $602,000 after acquiring an additional 47 shares during the period. Ascent Group LLC raised its holdings in ResMed by 1.7% in the third quarter. Ascent Group LLC now owns 2,924 shares of the medical equipment provider’s stock worth $714,000 after purchasing an additional 48 shares in the last quarter. SkyView Investment Advisors LLC lifted its position in shares of ResMed by 2.0% during the third quarter. SkyView Investment Advisors LLC now owns 2,610 shares of the medical equipment provider’s stock valued at $637,000 after buying an additional 51 shares during the last quarter. Inspire Advisors LLC boosted its holdings in shares of ResMed by 1.9% in the 2nd quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock valued at $586,000 after buying an additional 56 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its position in shares of ResMed by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,919 shares of the medical equipment provider’s stock worth $469,000 after buying an additional 57 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

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.