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

Needham & Company LLC reaffirmed their buy rating on shares of ResMed (NYSE:RMD) in a research note published on Monday, Benzinga reports. The firm currently has a $236.00 price objective on the medical equipment provider’s stock.

RMD has been the subject of several other reports. Royal Bank of Canada upped their price target on shares of ResMed from $187.00 to $200.00 and gave the company a sector perform rating in a research report on Friday, April 26th. Mizuho reiterated a buy rating and issued a $215.00 price target on shares of ResMed in a research report on Wednesday, March 27th. KeyCorp raised their price objective on ResMed from $227.00 to $238.00 and gave the stock an overweight rating in a research report on Friday, April 26th. Finally, Oppenheimer reduced their target price on ResMed from $205.00 to $200.00 and set an outperform rating on the stock in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, ResMed has a consensus rating of Moderate Buy and an average price target of $202.80.

ResMed Stock Up 2.7 %

Shares of NYSE:RMD opened at $191.58 on Monday. ResMed has a 52-week low of $132.24 and a 52-week high of $229.97. The company has a market capitalization of $28.15 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 1.80 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.97 and a current ratio of 3.04. The company has a fifty day moving average of $208.22 and a 200-day moving average of $190.91.

ResMed (NYSE:RMD) last posted its earnings results on Thursday, April 25th. The medical equipment provider reported $2.13 EPS for the quarter, beating the consensus estimate of $1.91 by $0.22. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.17 billion. ResMed had a return on equity of 24.43% and a net margin of 20.91%. The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same period last year, the company earned $1.68 earnings per share. On average, equities analysts predict that ResMed will post 7.7 EPS for the current fiscal year.

ResMed Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 9th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date was Wednesday, May 8th. ResMed’s payout ratio is 29.49%.

Insider Activity

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $216.50, for a total value of $3,178,869.50. Following the completion of the sale, the chief executive officer now owns 440,752 shares of the company’s stock, valued at $95,422,808. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm’s stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.50, for a total value of $3,178,869.50. Following the transaction, the chief executive officer now directly owns 440,752 shares of the company’s stock, valued at $95,422,808. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Witte Jan De sold 360 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total transaction of $78,584.40. Following the sale, the director now directly owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,151 shares of company stock worth $6,666,409. Company insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RMD. Atlantic Edge Private Wealth Management LLC purchased a new position in ResMed during the 4th quarter worth $27,000. Hall Laurie J Trustee bought a new position in shares of ResMed during the 1st quarter worth approximately $32,000. BOK Financial Private Wealth Inc. purchased a new position in shares of ResMed in the 1st quarter worth approximately $35,000. Planned Solutions Inc. bought a new position in shares of ResMed in the fourth quarter valued at approximately $34,000. Finally, Riverview Trust Co purchased a new stake in shares of ResMed during the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 54.98% of the company’s stock.

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.