ResMed Inc. (RMD) Receives Consensus Rating of “Hold” from Analysts
Shares of ResMed Inc. (NYSE:RMD) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, six have given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $72.25.
Several brokerages recently weighed in on RMD. Needham & Company LLC reaffirmed a “sell” rating on shares of ResMed in a report on Friday, October 27th. BMO Capital Markets raised their target price on shares of ResMed from $70.00 to $74.00 and gave the company a “market perform” rating in a report on Friday, October 27th. Zacks Investment Research cut shares of ResMed from a “buy” rating to a “sell” rating in a report on Tuesday, October 24th. JPMorgan Chase & Co. raised their target price on shares of ResMed from $72.00 to $73.00 and gave the company an “overweight” rating in a report on Monday, October 30th. Finally, Barclays raised their target price on shares of ResMed from $68.00 to $70.00 and gave the company an “underweight” rating in a report on Friday, October 27th.
Shares of ResMed (NYSE RMD) traded up $1.95 on Friday, hitting $93.47. 748,347 shares of the stock traded hands, compared to its average volume of 864,629. The firm has a market capitalization of $13,080.00, a PE ratio of 32.30 and a beta of 0.92. ResMed has a 1-year low of $67.04 and a 1-year high of $104.78.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 8th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, February 7th. This represents a $1.40 annualized dividend and a yield of 1.50%. ResMed’s dividend payout ratio (DPR) is 48.78%.
In other ResMed news, CFO Brett Sandercock sold 1,250 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $85.36, for a total value of $106,700.00. Following the transaction, the chief financial officer now directly owns 79,572 shares in the company, valued at $6,792,265.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider James Hollingshead sold 7,019 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $84.16, for a total transaction of $590,719.04. Following the completion of the transaction, the insider now owns 66,409 shares in the company, valued at $5,588,981.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,802 shares of company stock worth $4,824,727. 1.77% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC purchased a new position in ResMed in the third quarter valued at approximately $113,000. Calton & Associates Inc. purchased a new position in ResMed in the fourth quarter valued at approximately $115,000. Toronto Dominion Bank increased its stake in ResMed by 12.8% in the second quarter. Toronto Dominion Bank now owns 1,740 shares of the medical equipment provider’s stock valued at $135,000 after purchasing an additional 197 shares during the last quarter. Conning Inc. purchased a new position in ResMed in the fourth quarter valued at approximately $203,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in ResMed in the fourth quarter valued at approximately $206,000. Institutional investors own 61.47% of the company’s stock.
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ResMed Company Profile
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.
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