ResMed (NYSE:RMD) Reaches New 52-Week Low – What’s Next?

ResMed Inc. (NYSE:RMD) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $218.03 and last traded at $218.75, with a volume of 222520 shares trading hands. The stock had previously closed at $222.04.

Analyst Ratings Changes

RMD has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on shares of ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Royal Bank Of Canada increased their target price on ResMed from $311.00 to $314.00 and gave the company an “outperform” rating in a report on Friday, January 30th. Robert W. Baird set a $281.00 target price on ResMed in a report on Friday, January 30th. Stifel Nicolaus increased their target price on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a report on Friday, January 30th. Finally, Evercore set a $255.00 target price on ResMed and gave the company an “outperform” rating in a report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, ResMed presently has a consensus rating of “Moderate Buy” and an average target price of $295.17.

ResMed Price Performance

The firm has a 50 day moving average price of $237.70 and a 200 day moving average price of $249.06. The company has a quick ratio of 2.32, a current ratio of 3.06 and a debt-to-equity ratio of 0.06. The stock has a market cap of $31.97 billion, a P/E ratio of 21.70, a P/E/G ratio of 1.46 and a beta of 0.93.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The firm had revenue of $1.42 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company earned $2.43 earnings per share. The business’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, analysts forecast that ResMed Inc. will post 11.05 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, February 12th. This represents a $2.40 annualized dividend and a dividend yield of 1.1%. ResMed’s dividend payout ratio (DPR) is 23.74%.

Insider Activity

In related news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $273.78, for a total transaction of $1,366,435.98. Following the sale, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. This trade represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter C. Farrell sold 2,000 shares of ResMed stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $225.00, for a total value of $450,000.00. The disclosure for this sale is available in the SEC filing. Insiders sold 21,023 shares of company stock worth $5,230,857 in the last ninety days. Corporate insiders own 0.65% of the company’s stock.

Institutional Trading of ResMed

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SJS Investment Consulting Inc. raised its stake in ResMed by 1,433.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 86 shares during the period. International Assets Investment Management LLC bought a new stake in ResMed during the 4th quarter valued at approximately $25,000. ORG Partners LLC raised its stake in ResMed by 181.6% during the 4th quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 69 shares during the period. Imprint Wealth LLC bought a new stake in ResMed during the 3rd quarter valued at approximately $26,000. Finally, WFA of San Diego LLC bought a new stake in ResMed during the 2nd quarter valued at approximately $26,000. Institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

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.