Shares of ResMed Inc. (NYSE:RMD) have been assigned a consensus recommendation of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $121.50.
RMD has been the topic of several analyst reports. Oppenheimer initiated coverage on ResMed in a report on Thursday, January 9th. They set a “hold” rating on the stock. KeyCorp initiated coverage on ResMed in a report on Friday, November 22nd. They set a “sector weight” rating on the stock. ValuEngine downgraded ResMed from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of ResMed in a report on Friday, October 25th.
In other news, insider James Hollingshead sold 20,038 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $146.35, for a total value of $2,932,561.30. Following the completion of the sale, the insider now directly owns 82,349 shares in the company, valued at approximately $12,051,776.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brett Sandercock sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $145.95, for a total value of $437,850.00. Following the completion of the sale, the chief financial officer now owns 72,690 shares of the company’s stock, valued at $10,609,105.50. The disclosure for this sale can be found here. Insiders sold a total of 56,889 shares of company stock valued at $8,439,612 over the last quarter. Company insiders own 1.22% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Hudson Valley Investment Advisors Inc. ADV increased its holdings in shares of ResMed by 0.5% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 44,577 shares of the medical equipment provider’s stock valued at $6,478,000 after acquiring an additional 223 shares during the last quarter. Commerzbank Aktiengesellschaft FI increased its holdings in shares of ResMed by 12.0% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 2,674 shares of the medical equipment provider’s stock valued at $414,000 after acquiring an additional 286 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of ResMed in the 4th quarter valued at approximately $6,053,000. Nisa Investment Advisors LLC increased its holdings in shares of ResMed by 5.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 94,809 shares of the medical equipment provider’s stock valued at $14,693,000 after acquiring an additional 5,274 shares during the last quarter. Finally, Huntington National Bank increased its holdings in shares of ResMed by 389.4% in the 4th quarter. Huntington National Bank now owns 460 shares of the medical equipment provider’s stock valued at $71,000 after acquiring an additional 366 shares during the last quarter. Institutional investors and hedge funds own 66.51% of the company’s stock.
RMD stock traded down $0.16 during midday trading on Friday, hitting $160.57. 452,220 shares of the company’s stock were exchanged, compared to its average volume of 436,346. The company has a current ratio of 2.11, a quick ratio of 1.46 and a debt-to-equity ratio of 0.60. ResMed has a 12-month low of $90.64 and a 12-month high of $161.98. The firm has a 50 day moving average price of $154.51 and a 200-day moving average price of $139.41. The stock has a market capitalization of $23.11 billion, a price-to-earnings ratio of 44.11, a price-to-earnings-growth ratio of 3.31 and a beta of 0.42.
ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.06. ResMed had a return on equity of 26.72% and a net margin of 15.52%. The company had revenue of $681.06 million for the quarter, compared to the consensus estimate of $660.87 million. During the same period in the previous year, the business earned $0.81 EPS. ResMed’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, sell-side analysts forecast that ResMed will post 4.11 EPS for the current fiscal year.
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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