ResMed (NYSE:RMD) Reaches New 1-Year High at $118.93

ResMed Inc. (NYSE:RMD) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $118.93 and last traded at $118.33, with a volume of 453800 shares traded. The stock had previously closed at $117.40.

RMD has been the topic of several research reports. Deutsche Bank raised ResMed from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Zacks Investment Research cut ResMed from a “hold” rating to a “sell” rating in a report on Friday, March 29th. ValuEngine cut ResMed from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. JPMorgan Chase & Co. raised ResMed from an “underweight” rating to a “neutral” rating and set a $95.00 target price on the stock in a report on Thursday, April 18th. Finally, UBS Group raised ResMed from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $109.00 to $119.00 in a report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $112.50.

The company has a quick ratio of 1.69, a current ratio of 2.38 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $16.83 billion, a PE ratio of 33.86, a PEG ratio of 3.05 and a beta of 0.43.

ResMed (NYSE:RMD) last issued its earnings results on Thursday, May 2nd. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.05. ResMed had a return on equity of 26.46% and a net margin of 17.65%. The firm had revenue of $662.23 million for the quarter, compared to analysts’ expectations of $657.82 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The business’s revenue was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that ResMed Inc. will post 3.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 9th will be issued a $0.37 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $1.48 annualized dividend and a dividend yield of 1.24%. ResMed’s dividend payout ratio (DPR) is 41.93%.

In related news, CFO Brett Sandercock sold 3,000 shares of ResMed stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $104.96, for a total value of $314,880.00. Following the completion of the transaction, the chief financial officer now owns 85,390 shares in the company, valued at $8,962,534.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert Andrew Douglas sold 4,298 shares of ResMed stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $100.90, for a total value of $433,668.20. Following the completion of the transaction, the insider now owns 48,604 shares of the company’s stock, valued at approximately $4,904,143.60. The disclosure for this sale can be found here. Insiders sold 102,469 shares of company stock worth $11,329,046 over the last ninety days. Insiders own 1.24% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMD. Morgan Stanley raised its holdings in ResMed by 2.0% during the 3rd quarter. Morgan Stanley now owns 986,022 shares of the medical equipment provider’s stock worth $113,726,000 after purchasing an additional 19,286 shares during the last quarter. Vanguard Group Inc increased its stake in shares of ResMed by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 14,567,805 shares of the medical equipment provider’s stock valued at $1,680,251,000 after acquiring an additional 69,129 shares during the last quarter. Advisors Asset Management Inc. increased its stake in shares of ResMed by 6.5% in the 4th quarter. Advisors Asset Management Inc. now owns 35,535 shares of the medical equipment provider’s stock valued at $4,046,000 after acquiring an additional 2,160 shares during the last quarter. BB&T Securities LLC increased its stake in shares of ResMed by 65.8% in the 4th quarter. BB&T Securities LLC now owns 27,895 shares of the medical equipment provider’s stock valued at $3,175,000 after acquiring an additional 11,069 shares during the last quarter. Finally, Financial Gravity Companies Inc. bought a new stake in shares of ResMed in the 4th quarter valued at about $34,000. Institutional investors own 67.26% of the company’s stock.

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About ResMed (NYSE:RMD)

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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