ResMed (NYSE:RMD) Shares Pass Below 200-Day Moving Average – Here’s What Happened

ResMed Inc. (NYSE:RMD)’s stock price crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $229.69 and traded as low as $228.27. ResMed shares last traded at $228.69, with a volume of 522,842 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RMD. Baird R W raised shares of ResMed to a “strong-buy” rating in a report on Tuesday, September 24th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. Royal Bank of Canada upped their price objective on ResMed from $224.00 to $232.00 and gave the stock a “sector perform” rating in a research note on Friday, October 25th. Wolfe Research reiterated an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Finally, Stifel Nicolaus initiated coverage on shares of ResMed in a research report on Friday, December 13th. They set a “hold” rating and a $250.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have given 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, ResMed presently has an average rating of “Moderate Buy” and an average target price of $227.91.

ResMed Trading Up 1.4 %

The business’s fifty day simple moving average is $241.21 and its two-hundred day simple moving average is $229.68. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $34.01 billion, a P/E ratio of 30.68, a P/E/G ratio of 1.73 and a beta of 0.68.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $2.03 by $0.17. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.19 billion. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the firm earned $1.64 EPS. As a group, analysts forecast that ResMed Inc. will post 9.34 earnings per share for the current year.

ResMed Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, November 7th. ResMed’s dividend payout ratio (DPR) is currently 28.08%.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 14,683 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the completion of the sale, the chief executive officer now owns 464,169 shares in the company, valued at $107,645,432.79. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brett Sandercock sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $233.47, for a total transaction of $233,470.00. Following the completion of the transaction, the chief financial officer now owns 95,812 shares in the company, valued at $22,369,227.64. This represents a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,725 shares of company stock valued at $10,779,048 in the last three months. 0.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMD. True Wealth Design LLC increased its stake in ResMed by 2,200.0% in the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of ResMed in the third quarter valued at about $34,000. Rothschild Investment LLC bought a new stake in ResMed during the second quarter worth about $44,000. Capital Performance Advisors LLP acquired a new position in ResMed during the third quarter valued at approximately $60,000. Finally, Quest Partners LLC grew its stake in ResMed by 44.1% in the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 100 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.