ResMed (NYSE:RMD) Shares Pass Below 200 Day Moving Average - What's Next?

ResMed Inc. (NYSE:RMD - Get Free Report)'s share price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $229.69 and traded as low as $228.27. ResMed shares last traded at $228.69, with a volume of 522,842 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on RMD shares. Stifel Nicolaus started coverage on shares of ResMed in a research report on Friday, December 13th. They issued a "hold" rating and a $250.00 target price for the company. Wolfe Research reiterated an "underperform" rating and issued a $180.00 price objective on shares of ResMed in a report on Wednesday, September 18th. Needham & Company LLC restated a "hold" rating on shares of ResMed in a report on Friday, October 25th. StockNews.com upgraded shares of ResMed from a "hold" rating to a "buy" rating in a research note on Tuesday, October 15th. Finally, Baird R W raised shares of ResMed to a "strong-buy" rating in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, ResMed presently has a consensus rating of "Moderate Buy" and an average target price of $227.91.

ResMed Trading Down 0.1 %

The firm has a market capitalization of $33.54 billion, a PE ratio of 30.26, a P/E/G ratio of 1.73 and a beta of 0.68. The firm has a 50 day simple moving average of $241.21 and a 200 day simple moving average of $229.68. The company has a current ratio of 2.92, a quick ratio of 1.91 and a debt-to-equity ratio of 0.13.

ResMed (NYSE:RMD - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The medical equipment provider reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.17. ResMed had a net margin of 23.15% and a return on equity of 25.53%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $1.64 EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts expect that ResMed Inc. will post 9.34 earnings per share for the current fiscal year.

ResMed Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Thursday, November 7th were paid a dividend of $0.53 per share. The ex-dividend date was Thursday, November 7th. This represents a $2.12 dividend on an annualized basis and a yield of 0.93%. ResMed's dividend payout ratio is presently 28.08%.

Insiders Place Their Bets

In other ResMed news, CEO Michael J. Farrell sold 14,683 shares of the firm's stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $231.91, for a total transaction of $3,405,134.53. Following the sale, the chief executive officer now owns 464,169 shares in the company, valued at approximately $107,645,432.79. This trade represents a 3.07 % decrease in their position. The transaction 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 the company's stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $233.47, for a total transaction of $233,470.00. Following the completion of the transaction, the chief financial officer now owns 95,812 shares of the company's stock, valued at approximately $22,369,227.64. The trade was a 1.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,725 shares of company stock valued at $10,779,048. Insiders own 0.71% of the company's stock.

Institutional Investors Weigh In On ResMed

A number of institutional investors have recently bought and sold shares of the business. True Wealth Design LLC raised its position in shares of ResMed by 2,200.0% during the third quarter. True Wealth Design LLC now owns 115 shares of the medical equipment provider's stock valued at $28,000 after buying an additional 110 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in ResMed in the 3rd quarter valued at $34,000. Rothschild Investment LLC purchased a new stake in ResMed in the 2nd quarter worth $44,000. Capital Performance Advisors LLP bought a new position in shares of ResMed during the 3rd quarter valued at about $60,000. Finally, Quest Partners LLC grew its position in shares of ResMed by 44.1% during the second quarter. Quest Partners LLC now owns 327 shares of the medical equipment provider's stock valued at $63,000 after purchasing an additional 100 shares in the last quarter. 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. The company 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 ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.