Shares of ResMed Inc. (NYSE:RMD – Get Free Report) traded up 4.5% during mid-day trading on Tuesday . The stock traded as high as $233.23 and last traded at $232.9910. 419,842 shares changed hands during trading, a decline of 68% from the average session volume of 1,305,453 shares. The stock had previously closed at $222.99.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on RMD shares. KeyCorp upped their price objective on shares of ResMed from $255.00 to $267.00 and gave the company an “overweight” rating in a research note on Monday, August 31st. UBS Group reiterated a “buy” rating and issued a $300.00 target price on shares of ResMed in a report on Tuesday, July 21st. Citigroup reissued a “neutral” rating on shares of ResMed in a report on Thursday, September 10th. Weiss Ratings raised ResMed from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Mizuho dropped their price target on shares of ResMed from $235.00 to $220.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 15th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $241.69.
Get Our Latest Stock Analysis on ResMed
ResMed Stock Down 0.5%
ResMed (NYSE:RMD – Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The medical equipment provider reported $2.95 EPS for the quarter, beating analysts’ consensus estimates of $2.89 by $0.06. The company had revenue of $1.46 billion during the quarter, compared to analyst estimates of $1.46 billion. ResMed had a net margin of 26.94% and a return on equity of 25.58%. ResMed’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the business earned $2.55 earnings per share. As a group, sell-side analysts expect that ResMed Inc. will post 12.02 EPS for the current fiscal year.
ResMed Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.66 per share. This is an increase from ResMed’s previous quarterly dividend of $0.60. The ex-dividend date is Thursday, August 20th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.2%. ResMed’s dividend payout ratio (DPR) is presently 25.31%.
Insider Buying and Selling at ResMed
In related news, CEO Michael J. Farrell sold 4,991 shares of ResMed stock in a transaction on Friday, August 7th. The stock was sold at an average price of $205.69, for a total transaction of $1,026,598.79. Following the completion of the sale, the chief executive officer 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $225.00, for a total value of $1,800,000.00. Following the transaction, the director owned 52,773 shares of the company’s stock, valued at approximately $11,873,925. The trade was a 13.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 23,943 shares of company stock worth $5,255,268. Insiders own 0.65% of the company’s stock.
Institutional Trading of ResMed
Large investors have recently modified their holdings of the business. Kera Capital Partners Inc. increased its holdings in ResMed by 6.6% in the fourth quarter. Kera Capital Partners Inc. now owns 841 shares of the medical equipment provider’s stock valued at $217,000 after buying an additional 52 shares during the last quarter. Andina Capital Management LLC lifted its holdings in ResMed by 2.9% during the 4th quarter. Andina Capital Management LLC now owns 1,988 shares of the medical equipment provider’s stock worth $479,000 after buying an additional 56 shares during the last quarter. Turtle Creek Wealth Advisors LLC raised its position in shares of ResMed by 6.2% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 994 shares of the medical equipment provider’s stock worth $223,000 after acquiring an additional 58 shares in the last quarter. Meridian Management Co. lifted its stake in ResMed by 0.6% during the first quarter. Meridian Management Co. now owns 11,332 shares of the medical equipment provider’s stock worth $2,544,000 after purchasing an additional 70 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its stake in ResMed by 1.3% during the first quarter. Glenmede Trust Co. NA now owns 5,479 shares of the medical equipment provider’s stock worth $1,230,000 after purchasing an additional 71 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.
About ResMed
ResMed Inc is a medical equipment and software company that develops products and services for the diagnosis and treatment of sleep-disordered breathing and other respiratory conditions. Its offerings include continuous positive airway pressure (CPAP) and other positive airway pressure devices, masks, ventilation systems, oxygen-related solutions, and connected health technologies.
The company also provides cloud-based software and digital health platforms that help clinicians, home medical equipment providers, and patients monitor therapy, manage equipment, and support adherence to treatment.
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