ResMed (NYSE:RMD) Coverage Initiated by Analysts at Piper Sandler

Piper Sandler assumed coverage on shares of ResMed (NYSE:RMD) in a report released on Friday morning, Marketbeat reports. The brokerage issued a neutral rating and a $252.00 price objective on the medical equipment provider’s stock.

Several other equities research analysts also recently weighed in on RMD. Wolfe Research reaffirmed an “underperform” rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. Baird R W upgraded ResMed to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America increased their price objective on ResMed from $240.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Stifel Nicolaus initiated coverage on shares of ResMed in a research note on Friday, December 13th. They set a “hold” rating and a $250.00 price objective on the stock. Finally, Robert W. Baird raised their target price 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 investment analyst has rated the stock with a sell rating, seven have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, ResMed currently has an average rating of “Hold” and an average price target of $233.09.

ResMed Trading Down 1.0 %

Shares of NYSE:RMD opened at $233.92 on Friday. The company has a market cap of $34.34 billion, a PE ratio of 30.98, a P/E/G ratio of 1.73 and a beta of 0.70. 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 company’s 50 day moving average is $239.84 and its two-hundred day moving average is $230.88. ResMed has a 52 week low of $168.29 and a 52 week high of $260.49.

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

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 7th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.91%. ResMed’s payout ratio is currently 28.08%.

Insider Buying and Selling at ResMed

In other news, Director Witte Jan De sold 796 shares of ResMed stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $248.81, for a total value of $198,052.76. Following the completion of the transaction, the director now directly owns 6,723 shares of the company’s stock, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Justin Leong sold 6,160 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $243.09, for a total transaction of $1,497,434.40. Following the sale, the insider now directly owns 21,718 shares of the company’s stock, valued at approximately $5,279,428.62. This trade represents a 22.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,099 shares of company stock worth $2,719,385. 0.71% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ResMed

Large investors have recently modified their holdings of the stock. True Wealth Design LLC lifted its stake 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 valued at $28,000 after buying an additional 110 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of ResMed during the third quarter worth $34,000. Capital Performance Advisors LLP bought a new position in shares of ResMed in the third quarter worth $60,000. Quest Partners LLC grew its position in shares of 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. Finally, Quarry LP raised its stake in shares of ResMed by 271.9% during the 2nd quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock valued at $63,000 after purchasing an additional 242 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.