ResMed (RMD) Upgraded at Credit Suisse Group

Credit Suisse Group upgraded shares of ResMed (NYSE:RMD) from a neutral rating to an outperform rating in a research note issued to investors on Friday, MarketBeat reports.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of ResMed from a hold rating to a buy rating and set a $120.00 price objective for the company in a research note on Tuesday, July 10th. Goldman Sachs Group started coverage on shares of ResMed in a research note on Sunday, July 1st. They issued a buy rating for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $100.67.

RMD opened at $103.16 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.91 and a debt-to-equity ratio of 0.27. ResMed has a fifty-two week low of $81.52 and a fifty-two week high of $116.64. The stock has a market capitalization of $14.85 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 2.66 and a beta of 0.87.



ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 25th. The medical equipment provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.01. The firm had revenue of $588.28 million during the quarter, compared to analyst estimates of $576.66 million. ResMed had a net margin of 13.94% and a return on equity of 26.29%. Equities analysts forecast that ResMed will post 3.69 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 13th. Shareholders of record on Thursday, November 8th will be paid a $0.37 dividend. The ex-dividend date is Wednesday, November 7th. This represents a $1.48 annualized dividend and a yield of 1.43%. ResMed’s dividend payout ratio (DPR) is 41.93%.

In other ResMed news, insider David Pendarvis sold 2,810 shares of the stock in a transaction dated Friday, August 3rd. The shares were sold at an average price of $106.20, for a total value of $298,422.00. Following the completion of the sale, the insider now owns 101,893 shares in the company, valued at approximately $10,821,036.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Brett Sandercock sold 2,000 shares of the stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $103.16, for a total transaction of $206,320.00. Following the completion of the sale, the chief financial officer now owns 71,232 shares of the company’s stock, valued at approximately $7,348,293.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,420 shares of company stock valued at $1,468,482. Company insiders own 1.24% of the company’s stock.

A number of large investors have recently bought and sold shares of RMD. Terra Nova Asset Management LLC purchased a new stake in shares of ResMed during the 3rd quarter worth approximately $202,000. Assenagon Asset Management S.A. increased its stake in shares of ResMed by 46.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 49,910 shares of the medical equipment provider’s stock worth $5,757,000 after purchasing an additional 15,864 shares during the last quarter. NN Investment Partners Holdings N.V. increased its stake in shares of ResMed by 510.1% during the 3rd quarter. NN Investment Partners Holdings N.V. now owns 174,686 shares of the medical equipment provider’s stock worth $20,149,000 after purchasing an additional 146,054 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of ResMed by 16.4% during the 3rd quarter. Russell Investments Group Ltd. now owns 165,925 shares of the medical equipment provider’s stock worth $19,074,000 after purchasing an additional 23,332 shares during the last quarter. Finally, RNC Capital Management LLC purchased a new stake in shares of ResMed during the 3rd quarter worth approximately $219,000. Hedge funds and other institutional investors own 63.89% of the company’s stock.

ResMed Company Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications that diagnose, treat, and manage respiratory disorders comprising sleep disordered breathing, chronic obstructive pulmonary disease, neuromuscular disease, and other chronic diseases. 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, portable oxygen concentrators, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.

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Analyst Recommendations for ResMed (NYSE:RMD)

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