ResMed Inc. (RMD) Receives C$58.71 Consensus Target Price from Brokerages
Shares of ResMed Inc. (NYSE:RMD) have earned a consensus rating of “Hold” from the thirteen research firms that are currently covering the firm. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is C$58.71.
Several analysts recently issued reports on RMD shares. Jefferies Group reduced their price objective on shares of ResMed to $56.00 in a report on Wednesday, October 26th. Bank of America Corp. upgraded shares of ResMed from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $89.00 to $72.00 in a report on Thursday, September 29th. Zacks Investment Research upgraded shares of ResMed from a “sell” rating to a “hold” rating in a report on Tuesday, July 26th. Canaccord Genuity restated a “hold” rating and issued a $57.00 price objective on shares of ResMed in a report on Monday, July 25th. Finally, JPMorgan Chase & Co. started coverage on shares of ResMed in a report on Tuesday, October 4th. They issued a “neutral” rating and a $64.00 price objective on the stock.
ResMed (NYSE:RMD) opened at 59.32 on Tuesday. ResMed has a one year low of $50.77 and a one year high of $70.90. The firm’s 50-day moving average is $62.35 and its 200 day moving average is $62.96. The company has a market capitalization of $8.36 billion, a PE ratio of 24.21 and a beta of 0.90.
ResMed (NYSE:RMD) last posted its quarterly earnings results on Tuesday, October 25th. The company reported $0.62 EPS for the quarter, missing the consensus estimate of $0.64 by $0.02. ResMed had a return on equity of 23.10% and a net margin of 17.87%. The company had revenue of $465.45 million for the quarter, compared to analysts’ expectations of $475.05 million. During the same quarter in the prior year, the firm earned $0.58 EPS. The firm’s revenue was up 13.1% on a year-over-year basis. On average, equities analysts expect that ResMed will post $2.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Thursday, November 10th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, November 8th. ResMed’s dividend payout ratio is presently 55.00%.
In other news, insider David Pendarvis sold 6,033 shares of the business’s stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of C$57.79, for a total transaction of C$348,647.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael J. Farrell sold 5,975 shares of the business’s stock in a transaction dated Monday, August 15th. The stock was sold at an average price of C$70.41, for a total value of C$420,699.75. The disclosure for this sale can be found here. Insiders own 1.97% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Citigroup Inc. increased its position in shares of ResMed by 2.8% in the second quarter. Citigroup Inc. now owns 1,572 shares of the company’s stock worth $100,000 after buying an additional 43 shares during the period. Mizuho Asset Management Co. Ltd. increased its position in shares of ResMed by 102.6% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,692 shares of the company’s stock worth $107,000 after buying an additional 857 shares during the period. Sei Investments Co. increased its position in shares of ResMed by 35.4% in the second quarter. Sei Investments Co. now owns 1,722 shares of the company’s stock worth $109,000 after buying an additional 450 shares during the period. FineMark National Bank & Trust increased its position in shares of ResMed by 30.8% in the third quarter. FineMark National Bank & Trust now owns 1,700 shares of the company’s stock worth $110,000 after buying an additional 400 shares during the period. Finally, Meeder Asset Management Inc. acquired a new position in shares of ResMed during the third quarter worth about $147,000. 60.76% of the stock is owned by institutional investors and hedge funds.
ResMed Company Profile
ResMed Inc is engaged in the development, manufacturing, distribution and marketing of medical products for the diagnosis, treatment and management of respiratory disorders, with a focus on sleep-disordered breathing (SDB). The Company develops various products for SDB and other respiratory disorders, including airflow generators, diagnostic products, mask systems, headgear and other accessories.
Receive News & Stock 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 stocks with our FREE daily email newsletter.