ResMed (NYSE:RMD) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of ResMed (NYSE:RMD) in a research report report published on Monday, Benzinga reports. They currently have a $236.00 price target on the medical equipment provider’s stock.

Several other equities research analysts have also recently weighed in on the company. Mizuho restated a buy rating and set a $215.00 target price on shares of ResMed in a research note on Wednesday, March 27th. Royal Bank of Canada boosted their target price on ResMed from $187.00 to $200.00 and gave the stock a sector perform rating in a research note on Friday, April 26th. KeyCorp boosted their target price on ResMed from $227.00 to $238.00 and gave the stock an overweight rating in a research note on Friday, April 26th. Finally, Oppenheimer decreased their target price on ResMed from $205.00 to $200.00 and set an outperform rating for the company in a research note on Friday, April 26th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $202.80.

ResMed Stock Performance

NYSE RMD opened at $182.36 on Monday. The company has a market cap of $26.79 billion, a P/E ratio of 28.01, a P/E/G ratio of 2.09 and a beta of 0.68. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.04 and a quick ratio of 1.97. The stock has a 50-day moving average of $207.70 and a two-hundred day moving average of $190.78. ResMed has a 1-year low of $132.24 and a 1-year high of $229.97.

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

ResMed Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 9th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date was Wednesday, May 8th. ResMed’s dividend payout ratio is presently 29.49%.

Insider Buying and Selling

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 440,752 shares of the company’s stock, valued at $95,422,808. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ResMed news, Director Witte Jan De sold 360 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $218.29, for a total value of $78,584.40. Following the sale, the director now owns 7,519 shares of the company’s stock, valued at $1,641,322.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the 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 sale, the chief executive officer now directly owns 440,752 shares in the company, valued at approximately $95,422,808. The disclosure for this sale can be found here. Insiders have sold 31,151 shares of company stock valued at $6,666,409 over the last quarter. Company insiders own 1.21% of the company’s stock.

Institutional Trading of ResMed

A number of large investors have recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC purchased a new position in ResMed during the fourth quarter worth about $27,000. Operose Advisors LLC purchased a new position in ResMed during the third quarter worth about $32,000. Hall Laurie J Trustee purchased a new position in ResMed during the first quarter worth about $32,000. Planned Solutions Inc. purchased a new position in ResMed during the fourth quarter worth about $34,000. Finally, BOK Financial Private Wealth Inc. purchased a new position in ResMed during the first quarter worth about $35,000. Institutional investors and hedge funds 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.