ResMed (NYSE:RMD) Lifted to “Strong-Buy” at Baird R W

Baird R W upgraded shares of ResMed (NYSE:RMD) to a strong-buy rating in a report released on Tuesday, Zacks.com reports.

Other research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of ResMed from a buy rating to a hold rating in a research report on Friday, August 30th. Citigroup downgraded shares of ResMed from a buy rating to a neutral rating in a research report on Monday, June 24th. Royal Bank of Canada lifted their price objective on shares of ResMed from $204.00 to $206.00 and gave the company a sector perform rating in a research report on Friday, August 2nd. Wolfe Research reissued an underperform rating and issued a $180.00 price objective on shares of ResMed in a research report on Wednesday, September 18th. Finally, Oppenheimer downgraded shares of ResMed from an outperform rating to a market perform rating in a research report on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $212.25.

ResMed Stock Up 0.7 %

Shares of RMD stock opened at $242.48 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. ResMed has a 1 year low of $132.24 and a 1 year high of $255.18. The firm’s fifty day moving average price is $230.00 and its two-hundred day moving average price is $210.84. The firm has a market capitalization of $35.62 billion, a P/E ratio of 37.25, a PEG ratio of 2.45 and a beta of 0.69.

ResMed (NYSE:RMD) last issued its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business earned $1.60 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. On average, equities analysts predict that ResMed will post 8.92 EPS for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a $0.53 dividend. This is a boost from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 0.87%. ResMed’s payout ratio is 32.57%.

Insiders Place Their Bets

In other ResMed news, General Counsel Michael J. Rider sold 882 shares of ResMed stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total value of $203,742.00. Following the completion of the sale, the general counsel now owns 10,512 shares in the company, valued at approximately $2,428,272. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the completion of the transaction, the chief executive officer now directly owns 440,799 shares in the company, valued at approximately $85,060,983.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Michael J. Rider sold 882 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $231.00, for a total transaction of $203,742.00. Following the completion of the transaction, the general counsel now owns 10,512 shares of the company’s stock, valued at $2,428,272. The disclosure for this sale can be found here. Insiders sold 102,931 shares of company stock worth $22,644,807 in the last quarter. 1.21% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ResMed

Several hedge funds and other institutional investors have recently made changes to their positions in RMD. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in ResMed by 24.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 177,083 shares of the medical equipment provider’s stock worth $35,068,000 after acquiring an additional 35,273 shares during the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of ResMed in the first quarter valued at about $2,246,000. Janney Montgomery Scott LLC raised its holdings in shares of ResMed by 5.3% in the first quarter. Janney Montgomery Scott LLC now owns 81,313 shares of the medical equipment provider’s stock valued at $16,102,000 after purchasing an additional 4,075 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of ResMed by 3,599.0% in the first quarter. Los Angeles Capital Management LLC now owns 499,031 shares of the medical equipment provider’s stock valued at $98,823,000 after purchasing an additional 485,540 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in ResMed during the fourth quarter valued at about $7,535,000. 54.98% of the stock is currently 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.