ResMed’s (RMD) “Buy” Rating Reaffirmed at Mizuho

Mizuho reissued their buy rating on shares of ResMed (NYSE:RMD) in a report published on Wednesday morning, Benzinga reports. They currently have a $215.00 target price on the medical equipment provider’s stock.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price objective on shares of ResMed from $160.00 to $195.00 and gave the company an overweight rating in a report on Tuesday, January 9th. Oppenheimer lifted their price target on ResMed from $185.00 to $205.00 and gave the company an outperform rating in a research note on Tuesday, January 30th. Royal Bank of Canada increased their price objective on ResMed from $181.00 to $182.00 and gave the stock a sector perform rating in a research note on Thursday, January 25th. Needham & Company LLC lifted their target price on ResMed from $180.00 to $215.00 and gave the company a buy rating in a research report on Thursday, January 25th. Finally, UBS Group upped their price target on ResMed from $175.00 to $180.00 and gave the stock a neutral rating in a report on Thursday, January 25th. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $198.30.

ResMed Stock Performance

Shares of ResMed stock opened at $196.33 on Wednesday. The business has a 50-day simple moving average of $184.84 and a 200 day simple moving average of $165.39. ResMed has a one year low of $132.24 and a one year high of $243.52. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.11 and a quick ratio of 1.89. The firm has a market capitalization of $28.88 billion, a price-to-earnings ratio of 32.45, a PEG ratio of 2.39 and a beta of 0.65.

ResMed (NYSE:RMD) last released its quarterly earnings data on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, beating the consensus estimate of $1.81 by $0.07. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $1.66 earnings per share. The company’s quarterly revenue was up 12.5% on a year-over-year basis. On average, research analysts anticipate that ResMed will post 7.45 earnings per share for the current fiscal year.

ResMed Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 8th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 dividend on an annualized basis and a yield of 0.98%. ResMed’s dividend payout ratio is presently 31.74%.

Insider Buying and Selling at ResMed

In related news, Director Peter C. Farrell sold 10,935 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The disclosure for this sale can be found here. Insiders have sold 11,216 shares of company stock valued at $2,046,617 in the last 90 days. 1.21% of the stock is currently owned by company insiders.

Institutional Trading of ResMed

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of ResMed during the fourth quarter worth approximately $233,966,000. Morgan Stanley grew its position in ResMed by 102.4% during the 3rd quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock worth $344,481,000 after acquiring an additional 1,178,547 shares during the last quarter. LGT Capital Partners LTD. bought a new stake in ResMed in the fourth quarter valued at approximately $117,621,000. FIL Ltd boosted its stake in shares of ResMed by 245.9% during the fourth quarter. FIL Ltd now owns 840,030 shares of the medical equipment provider’s stock valued at $144,502,000 after purchasing an additional 597,165 shares during the period. Finally, abrdn plc grew its holdings in shares of ResMed by 79.2% in the third quarter. abrdn plc now owns 901,485 shares of the medical equipment provider’s stock worth $133,303,000 after purchasing an additional 398,302 shares during the last quarter. Hedge funds and other institutional investors own 54.98% of the company’s stock.

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.