ResMed’s (RMD) Hold Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their hold rating on shares of ResMed (NYSE:RMD) in a research report released on Friday,Benzinga reports.

A number of other brokerages have also weighed in on RMD. Piper Sandler assumed coverage on ResMed in a report on Friday, January 10th. They issued a “neutral” rating and a $252.00 price objective on the stock. StockNews.com raised ResMed from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Stifel Nicolaus assumed coverage on ResMed in a report on Friday, December 13th. They issued a “hold” rating and a $250.00 price objective on the stock. KeyCorp increased their price objective on ResMed from $251.00 to $266.00 and gave the company an “overweight” rating in a report on Friday, October 25th. Finally, Robert W. Baird increased their price objective on ResMed from $280.00 to $283.00 and gave the company an “outperform” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, ResMed has a consensus rating of “Moderate Buy” and a consensus target price of $244.73.

ResMed Trading Down 8.1 %

ResMed stock opened at $236.66 on Friday. The stock has a 50-day moving average of $240.32 and a two-hundred day moving average of $235.99. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.91 and a current ratio of 2.92. ResMed has a one year low of $170.56 and a one year high of $263.05. The stock has a market cap of $34.74 billion, a PE ratio of 31.35, a price-to-earnings-growth ratio of 1.83 and a beta of 0.70.

ResMed (NYSE:RMD) last released its quarterly earnings results on Thursday, January 30th. The medical equipment provider reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.29 by $0.14. ResMed had a return on equity of 25.53% and a net margin of 23.15%. On average, research analysts anticipate that ResMed will post 9.35 EPS for the current fiscal year.

ResMed Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, February 13th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 13th. ResMed’s payout ratio is currently 28.08%.

Insider Buying and Selling at ResMed

In other news, 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 value of $1,497,434.40. Following the transaction, the insider now owns 21,718 shares in the company, valued at $5,279,428.62. This trade represents a 22.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Witte Jan De sold 796 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were 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 owns 6,723 shares in the company, valued at approximately $1,672,749.63. This trade represents a 10.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,030 shares of company stock valued at $2,702,687. Company insiders own 0.71% of the company’s stock.

Hedge Funds Weigh In On ResMed

A number of institutional investors have recently added to or reduced their stakes in RMD. Creative Planning lifted its position in ResMed by 4.7% during the second quarter. Creative Planning now owns 24,282 shares of the medical equipment provider’s stock worth $4,648,000 after buying an additional 1,082 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in ResMed by 30.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,133 shares of the medical equipment provider’s stock worth $982,000 after buying an additional 1,208 shares in the last quarter. Quarry LP lifted its position 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 buying an additional 242 shares in the last quarter. Cetera Investment Advisers lifted its position 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 buying an additional 2,053 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in ResMed during the second quarter worth approximately $1,162,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

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.