Stifel Nicolaus Has Lowered Expectations for ResMed (NYSE:RMD) Stock Price

ResMed (NYSE:RMD) had its price target decreased by Stifel Nicolaus from $250.00 to $240.00 in a research report sent to investors on Wednesday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the medical equipment provider’s stock.

Several other equities analysts have also recently issued reports on RMD. Piper Sandler lifted their price objective on ResMed from $252.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. KeyCorp boosted their price target on shares of ResMed from $266.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of ResMed from $270.00 to $286.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Needham & Company LLC reiterated a “hold” rating on shares of ResMed in a research note on Friday, January 31st. Finally, UBS Group raised ResMed from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $243.82.

ResMed Trading Down 3.3 %

NYSE RMD opened at $223.76 on Wednesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.29 and a current ratio of 3.33. The firm has a market cap of $32.86 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 1.53 and a beta of 0.70. The firm has a 50 day simple moving average of $236.90 and a 200-day simple moving average of $239.90. ResMed has a one year low of $172.19 and a one year high of $263.05.

ResMed (NYSE:RMD) last posted its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, topping the consensus estimate of $2.29 by $0.14. ResMed had a net margin of 25.34% and a return on equity of 26.17%. Equities research analysts anticipate that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is currently 25.03%.

Insider Transactions at ResMed

In other news, CEO Michael J. Farrell sold 8,009 shares of ResMed stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $236.77, for a total value of $1,896,290.93. Following the sale, the chief executive officer now owns 455,472 shares of the company’s stock, valued at $107,842,105.44. The trade was a 1.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Peter C. Farrell sold 2,000 shares of the business’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $242.11, for a total transaction of $484,220.00. Following the transaction, the director now owns 77,218 shares in the company, valued at approximately $18,695,249.98. This trade represents a 2.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,186 shares of company stock worth $4,541,226 over the last 90 days. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ResMed

A number of institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its holdings in shares of 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 period. Colonial Trust Co SC raised its position in ResMed by 6,250.0% in the fourth quarter. Colonial Trust Co SC now owns 127 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Optiver Holding B.V. acquired a new stake in ResMed in the fourth quarter valued at $33,000. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed during the 3rd quarter worth $34,000. Finally, Itau Unibanco Holding S.A. grew its stake in shares of ResMed by 1,000.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock worth $38,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 54.98% of the company’s stock.

ResMed Company Profile

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.