ResMed (NYSE:RMD) Sees Large Volume Increase

ResMed Inc. (NYSE:RMD) saw unusually-high trading volume on Wednesday . Approximately 2,218,542 shares traded hands during mid-day trading, an increase of 125% from the previous session’s volume of 986,227 shares.The stock last traded at $173.08 and had previously closed at $184.86.

Analyst Ratings Changes

RMD has been the topic of several analyst reports. KeyCorp initiated coverage on ResMed in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $227.00 target price on the stock. Mizuho restated a “buy” rating and set a $215.00 price target on shares of ResMed in a research note on Wednesday, March 27th. JPMorgan Chase & Co. boosted their price target on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. UBS Group boosted their price target on ResMed from $175.00 to $180.00 and gave the stock a “neutral” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada boosted their price target on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 25th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $199.20.

ResMed Trading Up 0.7 %

The stock has a 50-day moving average of $186.29 and a 200 day moving average of $170.22. The stock has a market cap of $26.31 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 2.15 and a beta of 0.67. The company has a quick ratio of 1.89, a current ratio of 3.11 and a debt-to-equity ratio of 0.27.

ResMed (NYSE:RMD) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating analysts’ consensus estimates of $1.81 by $0.07. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. ResMed’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.66 earnings per share. As a group, sell-side analysts anticipate that ResMed Inc. will post 7.47 earnings per share for the current year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date was Wednesday, February 7th. ResMed’s payout ratio is presently 31.74%.

Insider Buying and Selling at ResMed

In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ResMed news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the completion of the transaction, the director now directly owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $173.25, for a total value of $34,650.00. Following the transaction, the general counsel now directly owns 6,688 shares of the company’s stock, valued at $1,158,696. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,216 shares of company stock valued at $2,046,617. 1.21% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Ossiam raised its stake in shares of ResMed by 2.4% during the 1st quarter. Ossiam now owns 1,919 shares of the medical equipment provider’s stock worth $420,000 after buying an additional 45 shares during the period. Ascent Group LLC raised its stake in ResMed by 2.3% in the 3rd quarter. Ascent Group LLC now owns 1,995 shares of the medical equipment provider’s stock valued at $446,000 after purchasing an additional 45 shares during the last quarter. SeaCrest Wealth Management LLC raised its stake in ResMed by 3.6% in the 4th quarter. SeaCrest Wealth Management LLC now owns 1,400 shares of the medical equipment provider’s stock valued at $291,000 after purchasing an additional 48 shares during the last quarter. Capital Impact Advisors LLC raised its stake in ResMed by 3.0% in the 4th quarter. Capital Impact Advisors LLC now owns 1,916 shares of the medical equipment provider’s stock valued at $399,000 after purchasing an additional 56 shares during the last quarter. Finally, Dearborn Partners LLC raised its stake in ResMed by 3.8% in the 3rd quarter. Dearborn Partners LLC now owns 1,577 shares of the medical equipment provider’s stock valued at $344,000 after purchasing an additional 57 shares during the last quarter. 54.98% of the stock is owned by institutional investors and hedge funds.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It 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 technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.