ResMed (RMD) Given “Hold” Rating at Needham & Company LLC
“We worked with Sleep Review magazine to survey US sleep centers. The survey included 136 responses received between 1/30/18 and 2/19/18. Compared to our prior (3Q17) survey, actual last-12-month patient volume growth decreased slightly while expected next-12-month patient volume growth increased slightly. RMD’s flow generator ratings were in line with Respironics’ ratings while RMD’s mask ratings were the highest but only slightly above its competitors’ ratings. RMD looks likely to gain branded flow generator prescription share but to lose branded mask prescription share. Overall, we think that the survey is mixed for RMD and we maintain our Hold rating.”,” Needham & Company LLC’s analyst wrote.
Other analysts have also issued reports about the stock. Northland Securities raised shares of ResMed from an under perform rating to a market perform rating in a research note on Tuesday, January 23rd. Zacks Investment Research lowered shares of ResMed from a buy rating to a hold rating in a research note on Monday, February 5th. ValuEngine raised shares of ResMed from a hold rating to a buy rating in a research note on Thursday, March 1st. Macquarie lowered shares of ResMed from a neutral rating to a sell rating in a research note on Tuesday, January 23rd. Finally, BMO Capital Markets boosted their target price on shares of ResMed to $82.00 and gave the company a market perform rating in a research note on Tuesday, December 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $75.17.
ResMed (NYSE:RMD) last issued its earnings results on Monday, January 22nd. The medical equipment provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.22. The firm had revenue of $601.27 million during the quarter, compared to analyst estimates of $583.77 million. ResMed had a net margin of 12.98% and a return on equity of 22.75%. The business’s revenue was up 13.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.73 earnings per share. analysts anticipate that ResMed will post 3.34 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, February 8th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Wednesday, February 7th. ResMed’s dividend payout ratio (DPR) is presently 70.00%.
In related news, Director John P. Wareham sold 25,934 shares of the company’s stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $102.25, for a total value of $2,651,751.50. Following the completion of the sale, the director now directly owns 38,934 shares of the company’s stock, valued at $3,981,001.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider James Hollingshead sold 600 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $84.96, for a total transaction of $50,976.00. Following the completion of the sale, the insider now directly owns 62,602 shares of the company’s stock, valued at $5,318,665.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,139 shares of company stock valued at $4,398,906. 1.77% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Ltd. raised its holdings in ResMed by 30.4% in the third quarter. Pictet Asset Management Ltd. now owns 90,100 shares of the medical equipment provider’s stock worth $6,934,000 after purchasing an additional 21,000 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in ResMed by 4.1% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 48,986 shares of the medical equipment provider’s stock worth $3,770,000 after purchasing an additional 1,930 shares in the last quarter. Victory Capital Management Inc. raised its holdings in ResMed by 8.2% in the third quarter. Victory Capital Management Inc. now owns 23,372 shares of the medical equipment provider’s stock worth $1,799,000 after purchasing an additional 1,775 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in ResMed by 5,344.3% in the third quarter. Canada Pension Plan Investment Board now owns 83,406 shares of the medical equipment provider’s stock worth $6,419,000 after purchasing an additional 81,874 shares in the last quarter. Finally, Andra AP fonden raised its holdings in ResMed by 46.6% in the third quarter. Andra AP fonden now owns 41,200 shares of the medical equipment provider’s stock worth $3,171,000 after purchasing an additional 13,100 shares in the last quarter. 61.61% of the stock is owned by institutional investors.
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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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