ResMed (NYSE:RMD) Now Covered by JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of ResMed (NYSE:RMD) in a research report released on Wednesday, MarketBeat.com reports. The firm issued an overweight rating on the medical equipment provider’s stock.

RMD has been the subject of a number of other reports. Citigroup decreased their price target on ResMed from $345.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, April 9th. Evercore set a $255.00 price target on ResMed and gave the company an “outperform” rating in a research note on Monday. Weiss Ratings cut ResMed from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, March 19th. Stifel Nicolaus increased their price target on ResMed from $260.00 to $265.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Finally, Wells Fargo & Company increased their price target on ResMed from $265.00 to $270.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, ResMed presently has an average rating of “Moderate Buy” and an average price target of $295.17.

ResMed Trading Down 0.7%

ResMed stock opened at $229.02 on Wednesday. The stock has a 50-day moving average of $242.01 and a two-hundred day moving average of $250.81. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.32 and a current ratio of 3.06. ResMed has a one year low of $202.00 and a one year high of $293.81. The stock has a market cap of $33.36 billion, a PE ratio of 22.65, a price-to-earnings-growth ratio of 1.52 and a beta of 0.93.

ResMed (NYSE:RMD) last released its quarterly earnings results on Friday, January 30th. The medical equipment provider reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.68 by $0.13. ResMed had a return on equity of 25.20% and a net margin of 27.53%.The company had revenue of $1.42 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same period last year, the business posted $2.43 earnings per share. The firm’s revenue was up 11.0% compared to the same quarter last year. On average, research analysts anticipate that ResMed will post 9.47 EPS for the current fiscal year.

ResMed Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, February 12th were paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.0%. The ex-dividend date was Thursday, February 12th. ResMed’s dividend payout ratio (DPR) is presently 23.74%.

Insider Activity

In other news, Director Peter C. Farrell sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $225.00, for a total value of $450,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael J. Farrell sold 4,991 shares of the firm’s stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $273.78, for a total value of $1,366,435.98. Following the completion of the transaction, the chief executive officer owned 466,223 shares of the company’s stock, valued at approximately $127,642,532.94. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 21,023 shares of company stock valued at $5,230,857. Company insiders own 0.65% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RMD. SJS Investment Consulting Inc. grew its holdings in ResMed by 1,433.3% during the third quarter. SJS Investment Consulting Inc. now owns 92 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 86 shares during the period. Imprint Wealth LLC acquired a new stake in ResMed during the third quarter worth about $26,000. WFA of San Diego LLC acquired a new stake in ResMed during the second quarter worth about $26,000. International Assets Investment Management LLC acquired a new stake in ResMed during the fourth quarter worth about $25,000. Finally, ORG Partners LLC grew its holdings in ResMed by 181.6% during the fourth quarter. ORG Partners LLC now owns 107 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 69 shares during the period. 54.98% of the stock is currently owned by hedge funds and other institutional investors.

ResMed Company Profile

ResMed (NYSE: RMD) is a global medical device and cloud-connectivity company focused on improving outcomes for people with sleep-disordered breathing and chronic respiratory conditions. Founded in 1989, the company is headquartered in San Diego, California, and develops, manufactures and distributes a range of devices and software used by patients, clinicians and providers worldwide.

ResMed’s product portfolio centers on noninvasive ventilation and sleep therapy equipment, including continuous positive airway pressure (CPAP) and bilevel devices, masks and related accessories for the treatment of obstructive sleep apnea and other respiratory disorders.