ResMed (NYSE:RMD) Upgraded to “Strong-Buy” at Baird R W

Baird R W upgraded shares of ResMed (NYSE:RMD) to a strong-buy rating in a research report released on Tuesday morning, Zacks.com reports.

Other equities analysts also recently issued reports about the stock. KeyCorp upped their price objective on shares of ResMed from $238.00 to $251.00 and gave the company an overweight rating in a research note on Friday, August 2nd. StockNews.com lowered ResMed from a buy rating to a hold rating in a research report on Friday, August 30th. Robert W. Baird initiated coverage on ResMed in a research report on Tuesday. They issued an outperform rating and a $280.00 price objective on the stock. Wolfe Research reissued an underperform rating and set a $180.00 target price on shares of ResMed in a research note on Wednesday, September 18th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of ResMed in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average target price of $212.25.

ResMed Trading Up 0.7 %

Shares of RMD stock opened at $242.48 on Tuesday. The business has a 50-day moving average of $229.23 and a 200 day moving average of $210.62. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.59 and a quick ratio of 1.69. ResMed has a 1-year low of $132.24 and a 1-year high of $255.18. The stock has a market capitalization of $35.62 billion, a PE ratio of 37.25, a P/E/G ratio of 2.45 and a beta of 0.69.

ResMed (NYSE:RMD) last released its quarterly earnings data on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that ResMed will post 8.92 earnings per share for the current year.

ResMed Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 19th. Stockholders of record on Thursday, August 15th were given a $0.53 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This is an increase from ResMed’s previous quarterly dividend of $0.48. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.87%. ResMed’s dividend payout ratio is currently 32.57%.

Insider Buying and Selling

In other news, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the transaction, the chief financial officer now directly owns 90,056 shares in the company, valued at $17,502,383.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Justin Leong sold 48,000 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares of the company’s stock, valued at approximately $4,068,108.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brett Sandercock sold 1,000 shares of ResMed stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $194.35, for a total transaction of $194,350.00. Following the completion of the transaction, the chief financial officer now directly owns 90,056 shares of the company’s stock, valued at $17,502,383.60. The disclosure for this sale can be found here. Insiders sold a total of 102,931 shares of company stock worth $22,644,807 in the last three months. 1.21% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ResMed

A number of institutional investors have recently made changes to their positions in RMD. Dorsey & Whitney Trust CO LLC boosted its position in shares of ResMed by 3.7% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $292,000 after buying an additional 52 shares during the last quarter. QRG Capital Management Inc. lifted its position in ResMed by 4.5% during the second quarter. QRG Capital Management Inc. now owns 1,291 shares of the medical equipment provider’s stock valued at $247,000 after purchasing an additional 56 shares during the period. Inspire Advisors LLC boosted its holdings in ResMed by 1.9% in the second quarter. Inspire Advisors LLC now owns 3,060 shares of the medical equipment provider’s stock worth $586,000 after purchasing an additional 56 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in ResMed by 1.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,188 shares of the medical equipment provider’s stock worth $631,000 after purchasing an additional 60 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its position in ResMed by 0.5% in the 1st quarter. Gulf International Bank UK Ltd now owns 12,614 shares of the medical equipment provider’s stock worth $2,497,000 after purchasing an additional 66 shares during the period. 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. 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.