ResMed (NYSE:RMD) Now Covered by Stifel Nicolaus

Stifel Nicolaus initiated coverage on shares of ResMed (NYSE:RMD) in a report published on Friday morning, Marketbeat reports. The firm issued a hold rating and a $250.00 price objective on the medical equipment provider’s stock.

Several other equities analysts also recently commented on the stock. KeyCorp boosted their price target on shares of ResMed from $251.00 to $266.00 and gave the stock an “overweight” rating in a research note on Friday, October 25th. Wolfe Research reaffirmed an “underperform” rating and set a $180.00 price objective on shares of ResMed in a research note on Wednesday, September 18th. Needham & Company LLC reissued a “hold” rating on shares of ResMed in a report on Friday, October 25th. StockNews.com raised shares of ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird increased their price target on shares of ResMed from $280.00 to $283.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and an average target price of $227.91.

ResMed Stock Performance

Shares of ResMed stock opened at $238.52 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.92 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average price of $242.75 and a 200 day moving average price of $227.74. The firm has a market capitalization of $35.01 billion, a P/E ratio of 31.59, a PEG ratio of 1.73 and a beta of 0.68. ResMed has a 52 week low of $164.12 and a 52 week high of $260.49.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company earned $1.64 EPS. ResMed’s revenue was up 11.1% compared to the same quarter last year. Sell-side analysts expect that ResMed will post 9.34 EPS for the current year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Thursday, November 7th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 annualized dividend and a yield of 0.89%. ResMed’s dividend payout ratio is presently 28.08%.

Insiders Place Their Bets

In other news, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total transaction of $198,052.76. Following the sale, the director now owns 6,723 shares in the company, valued at $1,672,749.63. This trade represents a 10.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $245.65, for a total transaction of $491,300.00. Following the completion of the sale, the director now directly owns 81,218 shares in the company, valued at $19,951,201.70. This represents a 2.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,725 shares of company stock worth $11,253,448. 0.71% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ResMed

A number of hedge funds have recently made changes to their positions in RMD. True Wealth Design LLC increased its holdings in shares of ResMed by 2,200.0% during the 3rd quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in ResMed during the third quarter valued at about $34,000. OFI Invest Asset Management acquired a new stake in ResMed during the second quarter worth about $32,000. Financial Connections Group Inc. purchased a new position in shares of ResMed in the 2nd quarter worth about $37,000. Finally, Blue Trust Inc. raised its holdings in shares of ResMed by 182.7% in the 2nd quarter. Blue Trust Inc. now owns 212 shares of the medical equipment provider’s stock worth $42,000 after purchasing an additional 137 shares during the period. Institutional investors and hedge funds 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. 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.