ResMed (NYSE:RMD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ResMed (NYSE:RMD) from a hold rating to a buy rating in a report published on Saturday.

RMD has been the topic of several other reports. KeyCorp upped their price objective on shares of ResMed from $274.00 to $298.00 and gave the company an “overweight” rating in a report on Friday. UBS Group upped their price objective on shares of ResMed from $285.00 to $325.00 and gave the company a “buy” rating in a report on Friday. Mizuho upped their price objective on shares of ResMed from $270.00 to $290.00 and gave the company an “outperform” rating in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of ResMed from $286.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, April 24th. Finally, Stifel Nicolaus upped their price objective on shares of ResMed from $240.00 to $270.00 and gave the company a “hold” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $274.83.

ResMed Price Performance

RMD opened at $291.30 on Friday. The firm has a market cap of $42.71 billion, a P/E ratio of 30.63, a PEG ratio of 1.72 and a beta of 0.77. The firm has a 50-day moving average of $257.55 and a 200 day moving average of $240.75. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.53 and a current ratio of 3.44. ResMed has a fifty-two week low of $199.92 and a fifty-two week high of $293.08.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, July 31st. The medical equipment provider reported $2.55 EPS for the quarter, beating the consensus estimate of $2.47 by $0.08. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.33 billion. ResMed had a net margin of 27.22% and a return on equity of 25.62%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.08 earnings per share. On average, research analysts expect that ResMed will post 9.47 EPS for the current year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, August 14th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.8%. This is a positive change from ResMed’s previous quarterly dividend of $0.53. The ex-dividend date is Wednesday, August 13th. ResMed’s dividend payout ratio (DPR) is currently 22.29%.

Insider Buying and Selling

In related news, Director Peter C. Farrell sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $242.25, for a total value of $484,500.00. Following the transaction, the director directly owned 71,218 shares in the company, valued at approximately $17,252,560.50. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Witte Jan De sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $243.47, for a total transaction of $486,940.00. Following the completion of the transaction, the director owned 5,806 shares in the company, valued at approximately $1,413,586.82. This trade represents a 25.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,063 shares of company stock worth $7,253,008. Insiders own 0.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Global X Japan Co. Ltd. increased its position in shares of ResMed by 121.4% in the first quarter. Global X Japan Co. Ltd. now owns 124 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Colonial Trust Co SC increased its position in shares of 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 purchasing an additional 125 shares during the last quarter. Optiver Holding B.V. bought a new position in ResMed during the fourth quarter valued at approximately $33,000. Golden State Wealth Management LLC grew its position in ResMed by 384.8% during the first quarter. Golden State Wealth Management LLC now owns 160 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. grew its position in ResMed by 1,000.0% during the fourth quarter. Itau Unibanco Holding S.A. now owns 165 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 150 shares during the last quarter. 54.98% of the stock is currently owned by institutional investors.

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.