ResMed (NYSE:RMD) Now Covered by Analysts at Robert W. Baird

Robert W. Baird initiated coverage on shares of ResMed (NYSE:RMD) in a report released on Tuesday morning, MarketBeat.com reports. The firm issued an outperform rating and a $280.00 target price on the medical equipment provider’s stock.

A number of other equities analysts have also recently commented on the stock. Wolfe Research reiterated an underperform rating and issued a $180.00 target price on shares of ResMed in a research report on Wednesday, September 18th. StockNews.com cut shares of ResMed from a buy rating to a hold rating in a research report on Friday, August 30th. Oppenheimer cut shares of ResMed from an outperform rating to a market perform rating in a research report on Tuesday, June 25th. Needham & Company LLC reiterated a hold rating on shares of ResMed in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada lifted their target price on shares of ResMed from $204.00 to $206.00 and gave the stock a sector perform rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average target price of $212.25.

ResMed Stock Performance

ResMed stock opened at $242.48 on Tuesday. The firm’s fifty day moving average price is $229.23 and its 200-day moving average price is $210.62. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. The stock has a market cap of $35.62 billion, a P/E ratio of 37.25, a price-to-earnings-growth ratio of 2.45 and a beta of 0.69. ResMed has a fifty-two week low of $132.24 and a fifty-two week high of $255.18.

ResMed (NYSE:RMD) last posted its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.22 billion. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company posted $1.60 EPS. On average, equities research analysts expect that ResMed will post 8.92 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.53 per share. This is a positive change from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 15th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s payout ratio is presently 32.57%.

Insider Activity

In other news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the sale, the chief financial officer now owns 90,056 shares of the company’s stock, valued at approximately $17,502,383.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin Leong sold 48,000 shares of ResMed stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,931 shares of company stock valued at $22,644,807. Corporate insiders own 1.21% of the company’s stock.

Institutional Investors Weigh In On ResMed

Several hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in ResMed during the second quarter worth about $1,162,000. Dana Investment Advisors Inc. bought a new stake in ResMed during the second quarter worth about $4,728,000. Cetera Investment Advisers boosted its stake in ResMed by 26.8% during the second quarter. Cetera Investment Advisers now owns 9,721 shares of the medical equipment provider’s stock worth $1,861,000 after acquiring an additional 2,053 shares in the last quarter. Greenvale Capital LLP boosted its stake in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after acquiring an additional 275,000 shares in the last quarter. Finally, Quarry LP boosted its stake in ResMed by 271.9% during the second quarter. Quarry LP now owns 331 shares of the medical equipment provider’s stock worth $63,000 after acquiring an additional 242 shares in the last quarter. 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. It 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 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, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.