ResMed (NYSE:RMD) Sees Large Volume Increase

Shares of ResMed Inc. (NYSE:RMD) saw unusually-high trading volume on Wednesday . Approximately 2,218,542 shares changed hands during trading, an increase of 125% from the previous session’s volume of 986,227 shares.The stock last traded at $173.08 and had previously closed at $184.86.

Analyst Ratings Changes

RMD has been the topic of a number of research analyst reports. KeyCorp initiated coverage on ResMed in a report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 target price on the stock. Oppenheimer increased their target price on ResMed from $185.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday, January 30th. JPMorgan Chase & Co. increased their target price on ResMed from $160.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. Mizuho reaffirmed a “buy” rating and set a $215.00 target price on shares of ResMed in a report on Wednesday, March 27th. Finally, Royal Bank of Canada increased their target price on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, ResMed currently has a consensus rating of “Moderate Buy” and an average target price of $199.20.

ResMed Trading Up 0.7 %

The company has a current ratio of 3.11, a quick ratio of 1.89 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $26.31 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 2.15 and a beta of 0.67. The firm has a 50-day moving average of $186.29 and a 200 day moving average of $170.22.

ResMed (NYSE:RMD) last issued its earnings results on Wednesday, January 24th. The medical equipment provider reported $1.88 EPS for the quarter, topping the consensus estimate of $1.81 by $0.07. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.15 billion. ResMed had a return on equity of 23.86% and a net margin of 19.77%. ResMed’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.66 earnings per share. As a group, equities analysts predict that ResMed Inc. will post 7.47 EPS for the current fiscal year.

ResMed Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Thursday, February 8th were given a $0.48 dividend. The ex-dividend date was Wednesday, February 7th. This represents a $1.92 annualized dividend and a dividend yield of 1.07%. ResMed’s dividend payout ratio (DPR) is presently 31.74%.

Insider Transactions at ResMed

In related news, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total transaction of $1,997,387.10. Following the completion of the sale, the director now owns 157,404 shares of the company’s stock, valued at $28,751,414.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, General Counsel Michael J. Rider sold 200 shares of ResMed stock in a transaction on Friday, March 1st. The stock was sold at an average price of $173.25, for a total transaction of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares of the company’s stock, valued at $1,158,696. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Peter C. Farrell sold 10,935 shares of ResMed stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now directly owns 157,404 shares of the company’s stock, valued at approximately $28,751,414.64. The disclosure for this sale can be found here. Insiders sold a total of 11,216 shares of company stock valued at $2,046,617 over the last quarter. Company insiders own 1.21% of the company’s stock.

Hedge Funds Weigh In On ResMed

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in ResMed by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 17,743,457 shares of the medical equipment provider’s stock valued at $3,052,229,000 after buying an additional 173,635 shares in the last quarter. Geode Capital Management LLC raised its holdings in ResMed by 3.3% during the first quarter. Geode Capital Management LLC now owns 3,231,885 shares of the medical equipment provider’s stock valued at $706,314,000 after buying an additional 103,438 shares in the last quarter. Morgan Stanley raised its holdings in ResMed by 102.4% during the third quarter. Morgan Stanley now owns 2,329,618 shares of the medical equipment provider’s stock valued at $344,481,000 after buying an additional 1,178,547 shares in the last quarter. Norges Bank bought a new position in ResMed during the fourth quarter valued at about $233,966,000. Finally, Legal & General Group Plc raised its holdings in ResMed by 12.2% during the fourth quarter. Legal & General Group Plc now owns 1,122,245 shares of the medical equipment provider’s stock valued at $193,049,000 after buying an additional 122,167 shares in the last quarter. 54.98% of the stock is currently owned by institutional investors.

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.