Analysts’ Recent Ratings Updates for ResMed (RMD)

A number of firms have modified their ratings and price targets on shares of ResMed (NYSE: RMD) recently:

• 10/1/2024 – ResMed had its price target raised by analysts at Royal Bank of Canada from $206.00 to $224.00. They now have a “sector perform” rating on the stock.
• 10/1/2024 – ResMed had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 9/26/2024 – ResMed had its price target raised by analysts at Bank of America Co. from $240.00 to $270.00. They now have a “buy” rating on the stock.
• 9/24/2024 – ResMed was upgraded by analysts at Baird R W to a “strong-buy” rating.
• 9/24/2024 – ResMed is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $280.00 price target on the stock.
• 9/18/2024 – ResMed had its “underperform” rating reaffirmed by analysts at Wolfe Research. They now have a $180.00 price target on the stock.
• 9/18/2024 – ResMed had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
• 9/4/2024 – ResMed was downgraded by analysts at Needham & Company LLC from a “buy” rating to a “hold” rating. They now have a $236.00 price target on the stock.
• 8/30/2024 – ResMed was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/6/2024 – ResMed was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.

ResMed Stock Down 0.2 %

Shares of NYSE RMD opened at $238.43 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.69 and a current ratio of 2.59. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $255.18. The stock has a market capitalization of $35.03 billion, a P/E ratio of 36.63, a PEG ratio of 2.36 and a beta of 0.69. The stock’s fifty day moving average is $233.29 and its 200 day moving average is $212.51.

ResMed (NYSE:RMD) last announced its quarterly earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 EPS for the quarter, beating analysts’ consensus estimates of $2.03 by $0.05. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.22 billion. ResMed had a return on equity of 25.00% and a net margin of 21.79%. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same period last year, the firm posted $1.60 earnings per share. Sell-side analysts forecast that ResMed Inc. will post 8.97 earnings per share for the current fiscal year.

ResMed Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were given a $0.53 dividend. The ex-dividend date was Thursday, August 15th. This represents a $2.12 annualized dividend and a yield of 0.89%. This is a boost from ResMed’s previous quarterly dividend of $0.48. ResMed’s payout ratio is currently 32.57%.

Insiders Place Their Bets

In other news, insider Justin Leong sold 48,000 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now 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 can be accessed through this link. In other news, insider Justin Leong sold 48,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares in the company, valued at approximately $4,068,108.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Farrell sold 14,683 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $192.97, for a total value of $2,833,378.51. Following the sale, the chief executive officer now owns 440,799 shares of the company’s stock, valued at $85,060,983.03. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,931 shares of company stock valued at $23,119,207. Insiders own 1.21% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMD. Steward Partners Investment Advisory LLC lifted its position in ResMed by 23.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,189 shares of the medical equipment provider’s stock valued at $205,000 after purchasing an additional 225 shares in the last quarter. NEOS Investment Management LLC grew its stake in ResMed by 39.9% in the fourth quarter. NEOS Investment Management LLC now owns 2,088 shares of the medical equipment provider’s stock worth $359,000 after purchasing an additional 596 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in ResMed by 15.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 698,905 shares of the medical equipment provider’s stock valued at $120,225,000 after acquiring an additional 95,689 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in ResMed by 238.5% during the 4th quarter. Tower Research Capital LLC TRC now owns 21,953 shares of the medical equipment provider’s stock valued at $3,776,000 after acquiring an additional 15,467 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado boosted its position in shares of ResMed by 61.4% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 16,694 shares of the medical equipment provider’s stock worth $2,872,000 after purchasing an additional 6,352 shares in the last quarter. Institutional investors own 54.98% of the company’s stock.

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.