ResMed (NYSE:RMD) Rating Increased to Hold at Rothschild & Co Redburn

Rothschild & Co Redburn upgraded shares of ResMed (NYSE:RMD) to a hold rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently commented on RMD. Piper Sandler dropped their price objective on shares of ResMed from $233.00 to $225.00 and set a “neutral” rating on the stock in a research report on Friday, August 7th. Citigroup reiterated a “neutral” rating and issued a $235.00 price objective (down from $270.00) on shares of ResMed in a report on Sunday, July 12th. The Goldman Sachs Group restated a “buy” rating on shares of ResMed in a research note on Wednesday, July 1st. Jefferies Financial Group lowered their price target on ResMed from $240.00 to $225.00 and set a “hold” rating for the company in a report on Friday, July 10th. Finally, Royal Bank Of Canada increased their price target on shares of ResMed from $234.00 to $244.00 and gave the company a “sector perform” rating in a research note on Friday, August 7th. Seven equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, ResMed has an average rating of “Hold” and an average price target of $239.38.

ResMed Price Performance

Shares of NYSE RMD opened at $230.84 on Wednesday. The stock’s 50-day moving average is $205.75 and its two-hundred day moving average is $220.19. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.10 and a quick ratio of 2.42. ResMed has a 1-year low of $180.26 and a 1-year high of $293.81. The company has a market cap of $33.30 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 1.38 and a beta of 0.76.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.06. ResMed had a return on equity of 25.58% and a net margin of 26.94%.The business had revenue of $1.46 billion during the quarter, compared to analysts’ expectations of $1.46 billion. During the same quarter last year, the business posted $2.55 EPS. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. Analysts forecast that ResMed will post 12.03 EPS for the current fiscal year.

ResMed Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, August 20th. This is an increase from ResMed’s previous quarterly dividend of $0.60. This represents a $2.64 annualized dividend and a dividend yield of 1.1%. ResMed’s dividend payout ratio is currently 23.01%.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the transaction, the chief executive officer directly owned 466,256 shares of the company’s stock, valued at approximately $95,904,196.64. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Peter C. Farrell sold 8,000 shares of the stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total transaction of $1,800,000.00. Following the sale, the director owned 52,773 shares of the company’s stock, valued at $11,873,925. This trade represents a 13.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 22,973 shares of company stock worth $4,885,436. Insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Imprint Wealth LLC purchased a new position in ResMed in the 3rd quarter valued at $26,000. WFA of San Diego LLC purchased a new position in ResMed during the 2nd quarter worth $26,000. International Assets Investment Management LLC acquired a new stake in shares of ResMed in the 4th quarter worth $25,000. Sunbelt Securities Inc. acquired a new stake in shares of ResMed in the 3rd quarter worth $31,000. Finally, Bell Investment Advisors Inc purchased a new stake in shares of ResMed in the second quarter valued at about $26,000. Institutional investors and hedge funds own 54.98% of the company’s stock.

About ResMed

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.